Stock Market Outlook for April 4, 2022
Questionable data out of the transportation industry triggers a selloff in the stocks. We discuss further in 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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Safe Bulkers Inc. (NYSE:SB) Seasonal Chart
AmerisourceBergen Corp. (NYSE:ABC) Seasonal Chart
Gildan Activewear, Inc. (TSE:GIL.TO) Seasonal Chart
SPDR S&P Pharmaceuticals ETF (NYSE:XPH) Seasonal Chart
First Trust Dow Jones Internet Index Fund (NYSE:FDN) Seasonal Chart
Trade Desk Inc. (NASD:TTD) Seasonal Chart
PureFunds ISE Cyber Security ETF (AMEX:HACK) Seasonal Chart
Capital One Fncl Corp. (NYSE:COF) Seasonal Chart
Tile Shop Holdings, Inc. (NASD:TTSH) Seasonal Chart
Baker Hughes Company (NYSE:BKR) Seasonal Chart
Meta Platforms, Inc. (NASD:FB) Seasonal Chart
The Markets
Stocks ticked higher in the first session of the new month and new quarter as investors digested the results of the latest payroll report. The S&P 500 Index closed higher by just over a third of one percent, holding above minor support at 4530. Early signs of consolidation are becoming apparent above the 200-day moving average, which was broken as a level of resistance in the week prior. Short and intermediate moving averages at the 20 and 50-day are attempting to curl higher following the slide that has been apparent since the middle of January. Gradually, the short-term and intermediate technical backdrop is improving as momentum indicators trend higher and levels of support are retaken. MACD continues to roll over in what could be a renewed technical sell signal, but the fact that it is occurring at a higher level than the last bearish crossover and above the middle line is much less of a concern than if the opposite were true, such was the case through January and February.
Today, in our Market Outlook to subscribers, we discuss the following:
- Weekly look at the large-cap benchmark
- The downfall of transportation stocks and the questionable data stemming from this sector that has been seen lately
- Growing population of industries that have broken declining trendline resistance and how we are allocating
- Looking for quasi cyclical/defensive plays in the Consumer Finance industry
- March Nonfarm Payrolls and one of the segments that have caught our eye given the rebound from early year lows
- US Construction Spending
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Just released…
Our monthly report for April is out, providing subscribers with a 103-page look at what is important in the month(s) ahead and how to position to best take advantage of the trends in the economy and the market.
Highlights in this report include:
- Equity market tendencies in the month of April
- Review of our 2022 Playbook
- Tracking the Spread of COVID
- Americans on the move, but plans are changing
- Cooling demand for energy commodities
- Elevated levels of concern
- Extreme pessimism
- Consumer prices remain on fire
- The change in Retail Sales holding above seasonal norms year-to-date, but we are not all that enthusiastic
- The snap-back of shipping activity
- Industrial Production
- Copper
- How to defend your portfolio this summer
- Spring is the time for real estate
- Existing Home Sales
- Medical devices
- Time to take a position in the bond market?
- April’s currency tailwind
- Watching the yield curve as it nears the precipice of inverting
- The Death Cross on the S&P 500 Index
- Finding direction in directionless markets
- Positioning for the months ahead
- Sector Reviews and Ratings
- Stocks that have Frequently Gained in the Month of April
- Notable Stocks and ETFs Entering their Period of Strength in April
Subscribers can look for this report in their inbox.
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Sentiment on Friday, as gauged by the put-call ratio, ended bearish at 1.02.
Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
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