Contact | RSS Feed

Stock Market Outlook for August 18, 2022


Waning demand and inventories that are out of control point to a consumer economy that threatens to bring upon a recession.

 

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.

Nike Inc. (NYSE:NKE) Seasonal Chart

Nike Inc. (NYSE:NKE) Seasonal Chart

HudBay Minerals Inc. (TSE:HBM.TO) Seasonal Chart

HudBay Minerals Inc. (TSE:HBM.TO) Seasonal Chart

Minerals Technologies Inc. (NYSE:MTX) Seasonal Chart

Minerals Technologies Inc. (NYSE:MTX) Seasonal Chart

California Amplifier, Inc. (NASD:CAMP) Seasonal Chart

California Amplifier, Inc. (NASD:CAMP) Seasonal Chart

Designer Brands Inc. (NYSE:DBI) Seasonal Chart

Designer Brands Inc. (NYSE:DBI) Seasonal Chart

Templeton Dragon Fund (NYSE:TDF) Seasonal Chart

Templeton Dragon Fund (NYSE:TDF) Seasonal Chart

Vanguard S&P Small-Cap 600 Value ETF (NYSE:VIOV) Seasonal Chart

Vanguard S&P Small-Cap 600 Value ETF (NYSE:VIOV) Seasonal Chart

 

The Markets

Stocks closed lower on Wednesday as major market benchmarks start to react to resistance around their 200-day moving averages.  The S&P 500 Index shed just over seven-tenths of one percent after reaching within one point of its long-term hurdle in the prior session.  A digestion of the recent gains is deemed to be underway, one that could see the retest of levels of support below, such as the 20 and 50-day moving averages at 4128 and 3962, respectively.  The relative strength index (RSI) has rolled over from overbought territory, falling below 70 and triggering a momentum sell signal.  MACD is converging on its signal line in what could amount to a similar sell signal with respect to this indicator in the days ahead.  But while these momentum indicators are rolling over, they are no longer showing characteristics of a bearish trend that dominated the first half of the year and the suggestion remains that a new intermediate trend has begun, one where buying the dip will likely prove to be appropriate.

image

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

  • A look at the short-term trend of the S&P 500 Index through the lens of the hourly chart
  • US Retail Sales
  • Business/Retailer Inventories
  • US petroleum demand and the secondary period of seasonal strength in the Energy sector

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for August 18

Not signed up yet?  Subscribe now to receive full access to all of the research and analysis that we publish.

Sentiment on Wednesday, as gauged by the put-call ratio, ended slightly bullish at 0.89. 

image

 

Seasonal charts of companies reporting earnings today:

Estee Lauder Companies, Inc. (The) Seasonal Chart Applied Materials, Inc. Seasonal Chart NetEase, Inc. Seasonal Chart Ross Stores, Inc. Seasonal Chart NICE Ltd Seasonal Chart Tapestry, Inc. Seasonal Chart Globant S.A. Seasonal Chart Kohl's Corporation Seasonal Chart Madison Square Garden Sports Corp. Seasonal Chart Canadian Solar Inc. Seasonal Chart OSI Systems, Inc. Seasonal Chart SpartanNash Company Seasonal Chart Corporacion America Airports SA Seasonal Chart Navigator Holdings Ltd. Seasonal Chart LSI Industries Inc. Seasonal Chart

 

 

S&P 500 Index

image

image

 

TSE Composite

image

image

 

Sponsored By...
Seasonal Advantage Portfolio by CastleMoore

Comments are closed.