Equity Clock

Stock Market Outlook for July 14, 2020

The summer rally period is nearing an end and, thus far, it has been one for the record books.

 

 

 

*** 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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Raymond James Financial Inc. (NYSE:RJF) Seasonal Chart

Capital Power Corp. (TSE:CPX.TO) Seasonal Chart

Northwest Healthcare REIT (TSE:NWH/UN.TO) Seasonal Chart

Applied Industrial Technologies Inc. (NYSE:AIT) Seasonal Chart

Pathfinder Bancorp, Inc. (NASD:PBHC) Seasonal Chart

I.D. Systems, Inc. (NASD:PWFL) Seasonal Chart

iShares 1-10 Year Laddered Corporate Bond Index ETF (TSE:CBH.TO) Seasonal Chart

iShares MSCI World Index ETF (TSE:XWD.TO) Seasonal Chart

BMO Mid-Term US IG Corporate Bond Index ETF (TSE:ZIC.TO) Seasonal Chart

BMO Covered Call Canadian Banks ETF (TSE:ZWB.TO) Seasonal Chart

Vanguard Total International Bond ETF (NASD:BNDX) Seasonal Chart

 

 

The Markets

Stocks closed lower to start the week as investors jockey for position ahead of the start of earnings season.  The S&P 500 Index closed down by nearly one percent, reversing the strong gain that was achieved at the high of the session.  Momentum indicators are showing early signs of rolling over, but a sell signal has not yet been achieved following last week’s buy signal with respect to MACD.  The S&P 500 Index is higher by 4.86% since June 29th, the start of the average summer rally period that peaks around the 17th of July.  If the benchmark ends right here, this would be the sixth best summer rally period in the past seven decades, certainty one for the record books.  Now, the true test of the sustainability of the summer rally begins as industry titans start to release earnings.  Subscribers to our service have been 100% exposed to stocks during this summer rally period.  Subscribe now in order to avoid missing the next big seasonal opportunity and find out what we’re seeing now.

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Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.77.

 

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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