Equity Clock

Stock Market Outlook for June 8, 2021

US Dollar has approached a significant zone of support, which could have a significant impact on stocks and commodities ahead.

 

 

 

*** 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.

Procter & Gamble Co. (NYSE:PG) Seasonal Chart

First Busey Corp. (NASD:BUSE) Seasonal Chart

Corvus Gold Inc. (TSE:KOR.TO) Seasonal Chart

Andrew Peller Ltd. (TSE:ADW/A.TO) Seasonal Chart

Global X Funds (AMEX:XYLD) Seasonal Chart

BlackRock Core Bond Trust (NYSE:BHK) Seasonal Chart

Equinox Gold Corp. (AMEX:EQX) Seasonal Chart

Global X Nasdaq 100 Covered Call ETF (NASD:QYLD) Seasonal Chart

Schwab U.S. Large-Cap Growth ETF (NYSE:SCHG) Seasonal Chart

 

 

The Markets

Stocks traded mixed on Monday as investors searched for direction in what is becoming a slower summer tape.  The S&P 500 Index slipped by just less than a tenth of one percent, continuing to hold above short-term support at its 20-day moving average.  While short-term resistance  just above 4200 was cracked as of the final session of last week, the battle for market control amongst the bulls and the bears remains apparent in this zone.  While the short-term trend of the market has become questionable, particularly as we near the back half of the month when mean reversion in the market becomes pronounced, the intermediate-term trend remains that of higher-highs and higher-lows.  This limits of the rising intermediate-term trend can be seen around 4150 and 4350.  Momentum indicators, while pointing higher, remain highly tenuous as the market stalls in the short-term.  Any pullback in the market between now and the end of June would setup well for the summer rally that typically benefits broad equities between June 27th and July 17th, on average.

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

• Biotech stocks and how we’re benefiting
• Ratings changes in this week’s chart books; Which industries we want to accumulate and which industry we have been forced to downgrade
• The US Dollar and the significant juncture that is being tested.

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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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Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.69.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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