Contact | RSS Feed

Stock Market Outlook for October 18, 2023

Shares of NVIDIA are carving out a head-and-shoulders topping pattern, but, aside from near-term risks, the technicals for this market leader remain quite positive for the longer-term.

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.

Exro Technologies Inc. (TSE:EXRO.TO) Seasonal Chart

Exro Technologies Inc. (TSE:EXRO.TO) Seasonal Chart

West Fraser Timber Co. Ltd. (TSE:WFG.TO) Seasonal Chart

West Fraser Timber Co. Ltd. (TSE:WFG.TO) Seasonal Chart

MillerKnoll, Inc. (NASD:MLKN) Seasonal Chart

MillerKnoll, Inc. (NASD:MLKN) Seasonal Chart

Stellantis N.V. (NYSE:STLA) Seasonal Chart

Stellantis N.V. (NYSE:STLA) Seasonal Chart

Aware, Inc. (NASD:AWRE) Seasonal Chart

Aware, Inc. (NASD:AWRE) Seasonal Chart

Vanguard U.S. Dividend Appreciation Index ETF (TSE:VGG.TO) Seasonal Chart

Vanguard U.S. Dividend Appreciation Index ETF (TSE:VGG.TO) Seasonal Chart

Marriott Vacations Worldwide Corp. (NYSE:VAC) Seasonal Chart

Marriott Vacations Worldwide Corp. (NYSE:VAC) Seasonal Chart

Audiovox Corp. (NASD:VOXX) Seasonal Chart

Audiovox Corp. (NASD:VOXX) Seasonal Chart

 

The Markets

Stocks closed little changed on Tuesday as a stronger than expected read of retail sales in the US had investors pushing the cost of borrowing higher in anticipation of further aggression on the part of the Fed ahead.  The S&P 500 Index ended lower by less than a point, remaining stuck below resistance at the declining 50-day moving average at 4400.  Support can be pegged at the 20-day moving average at 4318. It will be telling of the intermediate direction of the market heading into best six months of the year timeframe which of these hurdle holds, either support below or resistance above.  The benchmark is still within this short-term trend of lower-lows and lower-highs, but the risk-reward remains enticing around the band of support between 4100 and 4200.

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

  • NVIDIA (NVDA)
  • US Retail Sales
  • US Industrial Production
  • Health Care Provider industry

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

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

Sentiment on Tuesday, as gauged by the put call ratio, ended bearish at 1.05.

 

 

 

 

Seasonal charts of companies reporting earnings today:

Tesla, Inc. Seasonal Chart Procter & Gamble Company (The) Seasonal Chart ASML Holding N.V. Seasonal Chart SAP SE Seasonal Chart Abbott Laboratories Seasonal Chart Netflix, Inc. Seasonal Chart Morgan Stanley Seasonal Chart Elevance Health, Inc. Seasonal Chart Lam Research Corporation Seasonal Chart U.S. Bancorp Seasonal Chart Crown Castle Inc. Seasonal Chart Kinder Morgan, Inc. Seasonal Chart The Travelers Companies, Inc. Seasonal Chart Las Vegas Sands Corp. Seasonal Chart PPG Industries, Inc. Seasonal Chart Wipro Limited Seasonal Chart Nasdaq, Inc. Seasonal Chart Discover Financial Services Seasonal Chart Equifax, Inc. Seasonal Chart State Street Corporation Seasonal Chart M&T Bank Corporation Seasonal Chart Steel Dynamics, Inc. Seasonal Chart Northern Trust Corporation Seasonal Chart Citizens Financial Group, Inc. Seasonal Chart Rexford Industrial Realty, Inc. Seasonal Chart Ally Financial Inc. Seasonal Chart First Industrial Realty Trust, Inc. Seasonal Chart Commerce Bancshares, Inc. Seasonal Chart First Horizon Corporation Seasonal Chart Zions Bancorporation N.A. Seasonal Chart Alcoa Corporation Seasonal Chart Columbia Banking System, Inc. Seasonal Chart Synovus Financial Corp. Seasonal Chart F.N.B. Corporation Seasonal Chart Liberty Energy Inc. Seasonal Chart Unifirst Corporation Seasonal Chart United Community Banks, Inc. Seasonal Chart Cohen & Steers Inc Seasonal Chart SL Green Realty Corp Seasonal Chart Winnebago Industries, Inc. Seasonal Chart Marten Transport, Ltd. Seasonal Chart Banner Corporation Seasonal Chart Stepan Company Seasonal Chart Monarch Casino & Resort, Inc. Seasonal Chart Great Southern Bancorp, Inc. Seasonal Chart

 

S&P 500 Index

 

TSE Composite

 

 

Sponsored By...
Seasonal Advantage Portfolio by CastleMoore

Comments are closed.