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Stock Market Outlook for January 25, 2024

Days of supply of gasoline is showing the second highest level for the middle of January in three decades as the demand profile in the energy market looks distinctly different than the past few years.

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*** 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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Altair Engineering, Inc. (NASD:ALTR) Seasonal Chart

Altair Engineering, Inc. (NASD:ALTR) Seasonal Chart

Hartford Financial Services Group, Inc. (NYSE:HIG) Seasonal Chart

Hartford Financial Services Group, Inc. (NYSE:HIG) Seasonal Chart

Aon Corp. (NYSE:AON) Seasonal Chart

Aon Corp. (NYSE:AON) Seasonal Chart


The Markets

Stocks closed rather mixed on Wednesday as weakness in core-defensive sectors (Staples, Utilities, REITs) overwhelmed strength in the traditional growth segments of Technology and Communications Services.  The S&P 500 Index closed with a gain of just less than a tenth of one percent after reaching a high of 4900 earlier in the session.  (The high of the day was our proposed upside target following the break above significant resistance at 4800.)  Despite the reversal, a new all-time high is still the result and, as the market starts talking about the next psychologically important level of 5000, the large-cap benchmark may start to feel the pull higher as investors are more cognizant of their portfolios at these record heights.  The market loves big, important round numbers and they will tend to act like a magnet to prices until they are achieved and the conversation around them endsThe benchmark is still showing characteristics of a bullish intermediate-term trend with major moving averages showing parallel paths higher and momentum indicators above their middle lines. The Relative Strength Index (RSI) is reaching back into overbought territory above 70, while short-term support remains persistent at the rising 20-day moving average (4776).

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

  • Investors showing no inclination of rotating into core-defensive sectors
  • The trend of revenue and net income is very clear about where to invest in this market are where to avoid
  • The supply/demand backdrop in the energy market

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for January 25

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




Seasonal charts of companies reporting earnings today:

Visa Inc. Seasonal Chart Intel Corporation Seasonal Chart T-Mobile US, Inc. Seasonal Chart Comcast Corporation Seasonal Chart Union Pacific Corporation Seasonal Chart NextEra Energy, Inc. Seasonal Chart Marsh & McLennan Companies, Inc. Seasonal Chart Blackstone Inc. Seasonal Chart KLA Corporation Seasonal Chart Sherwin-Williams Company (The) Seasonal Chart Northrop Grumman Corporation Seasonal Chart Arthur J. Gallagher & Co. Seasonal Chart Humana Inc. Seasonal Chart Capital One Financial Corporation Seasonal Chart Valero Energy Corporation Seasonal Chart STMicroelectronics N.V. Seasonal Chart L3Harris Technologies, Inc. Seasonal Chart Xcel Energy Inc. Seasonal Chart Fair Isaac Corporation Seasonal Chart Weyerhaeuser Company Seasonal Chart Nokia Corporation Seasonal Chart Western Digital Corporation Seasonal Chart Southwest Airlines Company Seasonal Chart McCormick & Company, Incorporated Seasonal Chart American Airlines Group, Inc. Seasonal Chart Old Republic International Corporation Seasonal Chart Eagle Materials Inc Seasonal Chart Western Alliance Bancorporation Seasonal Chart Cullen/Frost Bankers, Inc. Seasonal Chart Applied Industrial Technologies, Inc. Seasonal Chart TAL Education Group Seasonal Chart AppFolio, Inc. Seasonal Chart SouthState Corporation Seasonal Chart Olin Corporation Seasonal Chart Popular, Inc. Seasonal Chart Murphy Oil Corporation Seasonal Chart Valley National Bancorp Seasonal Chart Glacier Bancorp, Inc. Seasonal Chart Alaska Air Group, Inc. Seasonal Chart Ameris Bancorp Seasonal Chart Carpenter Technology Corporation Seasonal Chart Associated Banc-Corp Seasonal Chart


S&P 500 Index


TSE Composite




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