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Stock Market Outlook for May 11, 2022


Inventories of goods are rising at the fastest pace on record and it is poised to cap inflationary pressures through the summer.

 

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:

Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here.

BCE, Inc. (TSE:BCE.TO) Seasonal Chart

BCE, Inc. (TSE:BCE.TO) Seasonal Chart

CME Group Inc. (NASD:CME) Seasonal Chart

CME Group Inc. (NASD:CME) Seasonal Chart

Amicus Therapeutics, Inc. (NASD:FOLD) Seasonal Chart

Amicus Therapeutics, Inc. (NASD:FOLD) Seasonal Chart

BMO Junior Gold Index ETF (TSE:ZJG.TO) Seasonal Chart

BMO Junior Gold Index ETF (TSE:ZJG.TO) Seasonal Chart

Novavax, Inc. (NASD:NVAX) Seasonal Chart

Novavax, Inc. (NASD:NVAX) Seasonal Chart

 

 

 

The Markets

Stocks closed generally mixed on Tuesday as traders showed difficulty shaking off Monday’s sharp losses.  The S&P 500 Index recovered a mere quarter of one percent, charting a rather indecisive doji candlestick below the prior session’s high.  Momentum indicators continue to show characteristics of a bearish trend below their middle lines and MACD has fallen to the lowest level since the height of the pandemic downturn in 2020.  The benchmark continues to hold firmly below the neckline to a massive head-and-shoulders topping pattern, the downside projection of which points to 3780.  As we quickly approach that target, we are eager to become re-involved in equities in a big way, but, for now, we watch and wait with our large cash/bond allocation.

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

  • Signs that the market is becoming stretched to the downside
  • Wholesale Inventories
  • Inflation expectations rolling over and what that means for the beaten down technology sector and the red-hot commodity trade

Subscribe now and we’ll send this outlook to you.

Sentiment on Tuesday, as gauged by the put-call ratio, ended neutral at 1.00.

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Seasonal charts of companies reporting earnings today:

Walt Disney Company (The) Seasonal Chart Manulife Financial Corp Seasonal Chart Sun Life Financial Inc. Seasonal Chart STERIS plc Seasonal Chart Amdocs Limited Seasonal Chart Stantec Inc Seasonal Chart Pan American Silver Corp. Seasonal Chart Perrigo Company Seasonal Chart Wendy's Company (The) Seasonal Chart Tricon Residential Inc. Seasonal Chart Atlas Corp. Seasonal Chart Vermilion Energy Inc. Seasonal Chart Osisko Gold Royalties Ltd. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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