Stock Market Outlook for February 28, 2022
The debate over whether the market has charted a significant low is overwhelming. We weigh in with today’s report.
*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. As always, the use of technical and fundamental analysis is encouraged in order to fine tune entry and exit points to average seasonal trends.
Stocks Entering Period of Seasonal Strength Today:
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DISH Network Corp. (NASD:DISH) Seasonal Chart
Kraft Heinz Co. (NASD:KHC) Seasonal Chart
iShares MSCI Germany ETF (NYSE:EWG) Seasonal Chart
Sanofi SA (NASD:SNY) Seasonal Chart
Nature’s Sunshine Products, Inc. (NASD:NATR) Seasonal Chart
Invesco S&P SmallCap Consumer Staples ETF (NASD:PSCC) Seasonal Chart
The Markets
Stocks rallied on Friday as investors continue to buy the panic induced dip that was realized at Thursday’s open amidst news of the invasion of Ukraine by Russia. The S&P 500 Index gained 2.24%, clawing back the sharp losses recorded earlier in the week. Short and intermediate moving averages at the 20 and 50-day continue to point lower, acting in positions of resistance overhead. Momentum indicators have started to curl higher with the rebound in the market over the past couple of sessions, hinting of a positive divergence compared to price. RSI is curling up from a higher-low above the January oversold low and so too is MACD. This is evidence of waning selling pressures, often a precursor to a shift of trend.
Today, in our Market Outlook to subscribers, we discuss the following:
- The debate over whether we are done or not with this market decline
- A look at the hourly and weekly charts of the S&P 500 for clarity
- Defensive sectors still showing a trend of outperformance, emphasizing risk aversion
- US Durable Goods Orders; What is driving activity and how to take advantage
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Just released…
Our monthly report for March is out, providing you with everything you need to know for the month(s) ahead.
Highlights in this report include:
- Equity market tendencies in the month of March
- Review of our 2022 Playbook
- Tracking the Spread of COVID
- January Retail Sales
- Lowest Level of Consumer Sentiment in Over a Decade
- January Industrial Production
- The Breakout of the Metals & Mining Stocks
- Strength in Resource Stocks Juicing the Canadian Market and Markets around the Globe
- The ongoing Supply Crunch in the Housing Market
- Retailer Inventories
- Strongest January Increase in Consumer and Producers Prices in Decades
- Wages a Big Factor Driving the Rise in Prices
- Waning Manufacturer Sentiment
- Devastating Shipping Volumes for January
- Americans on the Move
- Clean Energy
- Broad Market Benchmarks Break Significant Horizontal Support
- Technical Indicators Representative of a Bearish Trend
- The Breakout in the Price of Gold
- The Jump in the Cost of Borrowing
- Depressed Investor Sentiment
- Positioning for the months ahead
- Sector Reviews and Ratings
- Stocks that have Frequently Gained in the Month of March
- Notable Stocks and ETFs Entering their Period of Strength in March
Subscribers can look for this report in their inbox.
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Sentiment on Friday, as gauged by the put-call ratio, ended neutral at 0.97.
Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
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