Equity Clock

Stock Market Outlook for July 9, 2020

Job Openings in the US remain depressed, certainly not indicative that companies have any growth plans in mind.

 

 

 

*** 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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Alimentation Couche-Tard, Inc. (TSE:ATD/B.TO) Seasonal Chart

Innergex Renewable Energy Inc. (TSE:INE.TO) Seasonal Chart

Pro-Dex, Inc. (NASD:PDEX) Seasonal Chart

York Water Co. (NASD:YORW) Seasonal Chart

Ladder Capital Corp. (NYSE:LADR) Seasonal Chart

 

 

The Markets

Stocks snapped back from Tuesday’s decline as investors shook off concerns pertaining to rising case count of coronavirus in the US.  The S&P 500 Index gained eight-tenths of one percent, ending the session close to the high of the day.  Intraday, the benchmark traded lower to the recently broken short-term resistance at 3130, but buyers stepped in to support the ongoing positive short-term trend.  MACD has triggered a new buy signal with the momentum indicator crossing above its signal line.  Momentum indicators continue to show evidence of a bullish trending market, warranting a bullish bias.

Looking for more insight? In our market outlook to subscribers today we provide insight on what the recent report on job openings and labor turnover have to say about the economy and we look at the tendency of the market during presidential elections years.  The results are quite interesting.  Subscribe now to be included on our distribution list.

Sentiment on Wednesday, as gauged by the put-call ratio, ended bullish at 0.76.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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