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Stock Market Outlook for April 19, 2022


Both the 10-year treasury yield and the US Dollar Index are reaching towards critical levels of resistance, the reaction to which could have significant implications for the equity market.

 

Real Time Economic Calendar provided by Investing.com.

 

 

*** 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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Apartment Investment and Management Co. (NYSE:AIV) Seasonal Chart

Apartment Investment and Management Co. (NYSE:AIV) Seasonal Chart

Mondelez International, Inc. (NASD:MDLZ) Seasonal Chart

Mondelez International, Inc. (NASD:MDLZ) Seasonal Chart

Amphastar Pharmaceuticals, Inc. (NASD:AMPH) Seasonal Chart

Amphastar Pharmaceuticals, Inc. (NASD:AMPH) Seasonal Chart

Zillow Group, Inc. Class C (NASD:Z) Seasonal Chart

Zillow Group, Inc. Class C (NASD:Z) Seasonal Chart

 

 

 

The Markets

Stocks closed slightly lower on Monday as rates and the US Dollar continue to pressure prices.  The S&P 500 Index closed down by two basis points (0.02%), remaining capped by the declining 50-day moving average, which was re-broken in the past week.  Major moving averages have all converged on one another and are gradually losing their positive slope, typically a characteristic of a bear-market decline.  Momentum indicators continue to point lower and the rising trends that had developed over the past couple of months are under threat.  The major level on the downside remains 4280, which, if broken, places the head-and-shoulders topping pattern that we had highlighted earlier in the year back in play.  The only hope for the benchmark at this juncture is that it is able to hold support at the 4280 zone and chart a higher-low, thereby taking a more threatening outcome off the table, but, for the time-being, the short and intermediate trends are lower.

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Today, in our Market Outlook to subscribers, we discuss the following:

  • The rise of both rates and the US Dollar
  • US Industrial Production
  • Empire State Manufacturing Survey
  • Notable upgrades and downgrades in this week’s chart books

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Want to know which areas of the market to buy or sell?  Our Weekly Chart Books have just been updated, providing a clear Accumulate, Avoid, or Neutral rating for currencies, cryptocurrencies, commodities, broad markets, and subsectors/industries of the market.  Subscribers can login and click on the relevant links to access.

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Sentiment on Monday, as gauged by the put-call ratio, ended neutral at 0.98.

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Seasonal charts of companies reporting earnings today:

Johnson & Johnson Seasonal Chart Netflix, Inc. Seasonal Chart Lockheed Martin Corporation Seasonal Chart Prologis, Inc. Seasonal Chart International Business Machines Corporation Seasonal Chart Truist Financial Corporation Seasonal Chart The Travelers Companies, Inc. Seasonal Chart Halliburton Company Seasonal Chart Fifth Third Bancorp Seasonal Chart Citizens Financial Group, Inc. Seasonal Chart Signature Bank Seasonal Chart Omnicom Group Inc. Seasonal Chart Rexford Industrial Realty, Inc. Seasonal Chart First Horizon Corporation Seasonal Chart Hasbro, Inc. Seasonal Chart Commerce Bancshares, Inc. Seasonal Chart Interactive Brokers Group, Inc. Seasonal Chart Iridium Communications Inc Seasonal Chart Wintrust Financial Corporation Seasonal Chart ManpowerGroup Seasonal Chart PacWest Bancorp Seasonal Chart Hancock Whitney Corporation Seasonal Chart United Community Banks, Inc. Seasonal Chart Badger Meter, Inc. Seasonal Chart Fulton Financial Corporation Seasonal Chart Stride, Inc. Seasonal Chart Marten Transport, Ltd. Seasonal Chart Preferred Bank Seasonal Chart Mercantile Bank Corporation Seasonal Chart Equity Bancshares, Inc. Seasonal Chart Pzena Investment Management Inc Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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