Equity Clock

Stock Market Outlook for June 2, 2021

Reopening trades continue to excel, benefitting from many of the themes that we have and continue to highlight.

 

 

 

*** 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.

Abbott Laboratories (NYSE:ABT) Seasonal Chart

Silver Tiger Metals Inc. (TSXV:SLVR.V) Seasonal Chart

Southern Co. (NYSE:SO) Seasonal Chart

Wintrust Financial Corp. (NASD:WTFC) Seasonal Chart

Winmark Corp. (NASD:WINA) Seasonal Chart

Hawkins Chemical, Inc. (NASD:HWKN) Seasonal Chart

 

 

The Markets

Stocks closed mixed on Tuesday as the unofficial start to summer with the Memorial Day weekend had investors rotating towards areas of the market poised to benefit from the economic reopening.  The S&P 500 Index closed lower by less than a tenth of one percent, dragged down by the technology, health care, and utilities sectors; meanwhile, energy, materials, and REITs topped the leaderboard. The large-cap benchmark  continues to hover around the mid-point to its intermediate rising trend as short-term resistance around 4200 becomes apparent.  Technical indicators are still pointing higher, for now, but the lack of short-term momentum threatens to spill over to the intermediate timeframe that is core to our approach.  We’ll continue to monitor accordingly.

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

 

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

• A look at the ratings changes in this week’s chart books, including two industry upgrades and two downgrades in the currency market
• US Construction Spending and how to play the fundamental trend in this industry
• Canada GDP and the important themes in the report that we continue to desire exposure to

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Sentiment on Tuesday, 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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