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Stock Market Outlook for April 27, 2023

Head-and-shoulders topping patterns are becoming abundant across the charts.

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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Apple, Inc. (NASD:AAPL) Seasonal Chart

Apple, Inc. (NASD:AAPL) Seasonal Chart

Alphabet Inc. - Class C (NASD:GOOG) Seasonal Chart

Alphabet Inc. – Class C (NASD:GOOG) Seasonal Chart

Blackrock MuniYield Quality Fund Inc. (NYSE:MQY) Seasonal Chart

Blackrock MuniYield Quality Fund Inc. (NYSE:MQY) Seasonal Chart

Vanguard S&P 500 Growth ETF (NYSE:VOOG) Seasonal Chart

Vanguard S&P 500 Growth ETF (NYSE:VOOG) Seasonal Chart

Valvoline Inc. (NYSE:VVV) Seasonal Chart

Valvoline Inc. (NYSE:VVV) Seasonal Chart

Tech Achievers Growth & Income Fund (TSE:HTA.TO) Seasonal Chart

Tech Achievers Growth & Income Fund (TSE:HTA.TO) Seasonal Chart

 

 

The Markets

Stocks traded generally lower on Wednesday as the market continues to take down exposure to core-cyclical assets in preparation for the threat of the onset of an economic recession.  The S&P 500 Index closed lower by just less than four-tenths of one percent, continuing to roll over from overhead resistance between 4100 and 4200.  As highlighted in our last report, a MACD sell signal has now been triggered as momentum indicators continue to profile a market that lacks upside enthusiasm.  The benchmark is currently reaching into the range of moving averages between 3950 and 4050, searching for a point of support to stem the tide of selling pressures that has bubbled up in the riskiest, most economically sensitive segments of the market (eg. energy, industrials, materials, financials) in recent sessions.

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

  • Head-and-shoulders topping patterns across the charts of major ETFs
  • Treasury bond prices increasingly showing a bottoming setup
  • Weekly petroleum status, including the state of supply and demand, along with the technicals in the energy market
  • US Durable Goods Orders
  • US International Trade, the reducing trade deficit, and what this means for the economy and for stocks

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for April 27

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Sentiment on Wednesday, as gauged by the put-call ratio, ended bearish at 1.04.

 

Seasonal charts of companies reporting earnings today:

Amazon.com, Inc. Seasonal Chart Eli Lilly and Company Seasonal Chart Mastercard Incorporated Seasonal Chart Merck & Company, Inc. Seasonal Chart AbbVie Inc. Seasonal Chart Astrazeneca PLC Seasonal Chart Linde plc Seasonal Chart T-Mobile US, Inc. Seasonal Chart Comcast Corporation Seasonal Chart Bristol-Myers Squibb Company Seasonal Chart Sanofi Seasonal Chart Honeywell International Inc. Seasonal Chart Amgen Inc. Seasonal Chart Intel Corporation Seasonal Chart Caterpillar, Inc. Seasonal Chart S&P Global Inc. Seasonal Chart Gilead Sciences, Inc. Seasonal Chart Mondelez International, Inc. Seasonal Chart Altria Group Seasonal Chart Southern Company (The) Seasonal Chart Northrop Grumman Corporation Seasonal Chart Activision Blizzard, Inc Seasonal Chart Hershey Company (The) Seasonal Chart Keurig Dr Pepper Inc. Seasonal Chart DexCom, Inc. Seasonal Chart Roper Technologies, Inc. Seasonal Chart Arthur J. Gallagher & Co. Seasonal Chart Valero Energy Corporation Seasonal Chart Republic Services, Inc. Seasonal Chart STMicroelectronics N.V. Seasonal Chart Xcel Energy Inc. Seasonal Chart L3Harris Technologies, Inc. Seasonal Chart Newmont Corporation Seasonal Chart Seagen Inc. Seasonal Chart IQVIA Holdings, Inc. Seasonal Chart Capital One Financial Corporation Seasonal Chart W.W. Grainger, Inc. Seasonal Chart ResMed Inc. Seasonal Chart Fidelity National Information Services, Inc. Seasonal Chart Rockwell Automation, Inc. Seasonal Chart Digital Realty Trust, Inc. Seasonal Chart West Pharmaceutical Services, Inc. Seasonal Chart Tractor Supply Company Seasonal Chart Agnico Eagle Mines Limited Seasonal Chart Willis Towers Watson Public Limited Company Seasonal Chart Wipro Limited Seasonal Chart DTE Energy Company Seasonal Chart

 

S&P 500 Index

 

TSE Composite

 

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