Equity Clock

Stock Market Outlook for June 11, 2021

Consumer prices are showing the fastest rise through this point in the year since 1981.

 

 

 

*** 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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Alexion Pharmaceuticals, Inc. (NASD:ALXN) Seasonal Chart

Casella Waste Systems, Inc. (NASD:CWST) Seasonal Chart

Patriot National Bancorp, Inc. (NASD:PNBK) Seasonal Chart

YRC Worldwide Inc. (NASD:YRCW) Seasonal Chart

Vonage Holdings Corp. (NASD:VG) Seasonal Chart

VEREIT, Inc. (NYSE:VER) Seasonal Chart

Invitae Corp. (NYSE:NVTA) Seasonal Chart

EastGroup Properties, Inc. (NYSE:EGP) Seasonal Chart

St Joe Corp. (NYSE:JOE) Seasonal Chart

BMO NASDAQ 100 Equity Hedged to CAD Index ETF (TSE:ZQQ.TO) Seasonal Chart

 

 

The Markets

Stocks closed firmly higher on Thursday despite a hotter than expected read on inflation in the economy.  The S&P 500 Index added half of one percent to end the day at a record closing high.  The move chips away at short-term resistance that has been apparent over the past couple of weeks just above 4200.  Short-term support at the 20-day moving average remains intact, as are the limits of the rising intermediate-term trend channel.  The lower limit of the rising span remains apparent around 4150, while the upper limit can be implied around 4350.

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

• Weekly jobless claims and the health of the labor market
• Natural gas inventories and how we’re playing the commodity
• US Consumer Prices and how to hedge against inflationary pressures

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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.78.

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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