Equity Clock

Stock Market Outlook for July 7, 2020

S&P 500 Index has confirmed a breakout above resistance at 3130.

 

 

 

*** 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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United Parcel Service, Inc. (NYSE:UPS) Seasonal Chart

Nasdaq OMX Group Inc. (NASD:NDAQ) Seasonal Chart

Sprott Physical Platinum and Palladium Trust (AMEX:SPPP) Seasonal Chart

 

 

The Markets

Stocks closed firmly higher to start the new week, adding to the upbeat return generated in the days the preceded the Independence Day holiday in the US.  The S&P 500 Index added 1.59%, pushing into the downside gap that was opened on June 11th.  The benchmark confirmed support around the rising 50-day moving average at the start of last week, keeping the intermediate-term trend of higher-highs and higher-lows stemming from the March bottom intact.  Momentum indicators are once again curling higher and a renewed MACD Buy signal may be imminent.

Want to know which areas of the market to buy or sell?  Our Weekly Chart Books have just been updated, providing a clear Accumulate, Avoid, or Neutral rating for currencies, cryptocurrencies, commodities, broad markets, and subsectors/industries of the market.  Subscribers can login and click on the relevant links to access.

• Currencies
• Cryptocurrencies
• Commodities
• Major Benchmarks
• Sub-sectors / Industries

Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.73.

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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