You're receiving this daily market outlook because you are subscribed to Equity Clock. Want to opt-out and only receive the monthly and intraday reports? Simply reply to this email to let us know.
Having trouble viewing this email? View in your browser.
Equity Clock

Equity Clock - Market Outlook for February 5, 2024

The draw towards the psychologically important 5,000 level on the S&P 500 Index continues, despite the lack of expansion of market breadth.

*** 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.

Cadence Design Systems, Inc. (NASD:CDNS) Seasonal Chart

Cadence Design Systems, Inc. (NASD:CDNS) Seasonal Chart

Restaurant Brands International Inc. (TSE:QSR.TO) Seasonal Chart

Restaurant Brands International Inc. (TSE:QSR.TO) Seasonal Chart

Gear Energy Ltd. (TSE:GXE.TO) Seasonal Chart

Gear Energy Ltd. (TSE:GXE.TO) Seasonal Chart

Fidelity MSCI Consumer Staples Index ETF (AMEX:FSTA) Seasonal Chart

Fidelity MSCI Consumer Staples Index ETF (AMEX:FSTA) Seasonal Chart

HanesBrands, Inc. (NYSE:HBI) Seasonal Chart

HanesBrands, Inc. (NYSE:HBI) Seasonal Chart

Nordic American Tanker Shipping Ltd. (NYSE:NAT) Seasonal Chart

Nordic American Tanker Shipping Ltd. (NYSE:NAT) Seasonal Chart

JPMorgan U.S. Quality Factor ETF (AMEX:JQUA) Seasonal Chart

JPMorgan U.S. Quality Factor ETF (AMEX:JQUA) Seasonal Chart

 

Super Simple Seasonal Portfolio


This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.

   


 

The Markets

Stocks jumped on Friday as investors flooded into shares of Amazon (AMZN) and Meta (META) following the release of their earnings reports, keeping the growth trade in the market alive.  The S&P 500 Index closed with a gain of just over one percent, inching closer to the psychologically important 5000 level that has been speculated to act as a draw to buying demand until it is achieved.  Momentum indicators are back on the rise following their short-term pullback with MACD mitigating a negative/bearish crossover in a last minute reprieve.  Both MACD and RSI are remaining firmly above their middle lines, which is characteristic of a bullish intermediate term trend.  There remains little to alter our positive view of the large-cap benchmark based on the intermediate outlook that our seasonal strategy caters towards, still leaving us with nothing to do from a portfolio allocation perspective.  Support remains embedded at rising major moving averages at the 20 and 50-day and the implication of previous resistance as support at 4800 provides an effective stop to any short-term allocations to equity market positions.  While February, overall, is a lacklustre month for equity market performance, the first half of the month tends to be positive, while the back half of the month tends to account for the majority of the weakness.



This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.

   


 

 

Seasonal charts of companies reporting earnings today:

McDonald's Corporation Seasonal Chart Caterpillar, Inc. Seasonal Chart Vertex Pharmaceuticals Incorporated Seasonal Chart Itau Unibanco Banco Holding SA Seasonal Chart Air Products and Chemicals, Inc. Seasonal Chart NXP Semiconductors N.V. Seasonal Chart Estee Lauder Companies, Inc. (The) Seasonal Chart Simon Property Group, Inc. Seasonal Chart IDEXX Laboratories, Inc. Seasonal Chart ON Semiconductor Corporation Seasonal Chart Tyson Foods, Inc. Seasonal Chart Loews Corporation Seasonal Chart AECOM Seasonal Chart CNA Financial Corporation Seasonal Chart Crown Holdings, Inc. Seasonal Chart Fabrinet Seasonal Chart Simpson Manufacturing Company, Inc. Seasonal Chart Amkor Technology, Inc. Seasonal Chart FMC Corporation Seasonal Chart Coherent Corp. Seasonal Chart Rambus, Inc. Seasonal Chart Timken Company (The) Seasonal Chart ChampionX Corporation Seasonal Chart Affiliated Managers Group, Inc. Seasonal Chart Varonis Systems, Inc. Seasonal Chart Kilroy Realty Corporation Seasonal Chart Skyline Champion Corporation Seasonal Chart Cabot Corporation Seasonal Chart Hillenbrand Inc Seasonal Chart J & J Snack Foods Corp. Seasonal Chart Golub Capital BDC, Inc. Seasonal Chart Allegiant Travel Company Seasonal Chart Kforce, Inc. Seasonal Chart NAPCO Security Technologies, Inc. Seasonal Chart Chegg, Inc. Seasonal Chart Kimball Electronics, Inc. Seasonal Chart Mesa Laboratories, Inc. Seasonal Chart Gladstone Capital Corporation Seasonal Chart Flexsteel Industries, Inc. Seasonal Chart

 

S&P 500 Index

 

TSE Composite

 

If you wish to be excluded from this distribution, simply reply to this email requesting to have your email removed from our list or click on the following link: **Note: You will continue to have access to our reports so long as your subscription at Equity Clock remains active. To manage your subscription to our service, please visit the Members Section at https://charts.equityclock.com/members.

Copyright © Equity Clock 2025