Equity Clock

Stock Market Outlook for June 14, 2021

Why you may want to step back from stocks over the next couple of weeks.

 

 

 

*** 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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Microsoft Corp. (NASD:MSFT) Seasonal Chart

Gold Fields Ltd. (NYSE:GFI) Seasonal Chart

America Movil S.A. de CV (NYSE:AMX) Seasonal Chart

Barrett Business Services, Inc. (NASD:BBSI) Seasonal Chart

America Movil, S.A.B. de C.V. (NYSE:AMOV) Seasonal Chart

iShares Russell Top 200 Growth ETF (NYSE:IWY) Seasonal Chart

Agnico-Eagle Mines Ltd. (TSE:AEM.TO) Seasonal Chart

Coeur Mining Inc (NYSE:CDE) Seasonal Chart

Invesco BLDRS Emerging Markets 50 ADR Index Fund (NASD:ADRE) Seasonal Chart

iShares S&P/TSX Global Gold Index ETF (TSE:XGD.TO) Seasonal Chart

iShares S&P/TSX Capped Materials Index ETF (TSE:XMA.TO) Seasonal Chart

Stellar Biotechnologies, Inc. (NASD:EDSA) Seasonal Chart

 

 

The Markets

Stocks closed the week on a high note as investors took the hot read of inflation provided mid-week in stride, unconcerned that the Fed will be force to interject by raising rates.  The S&P 500 Index added nearly two-tenths of one percent, charting another fresh record closing high and continuing to move above recent short-term resistance just above 4200.  Short-term support remains apparent at the 20-day moving average, which is now curling higher, while intermediate support continues to be implied around the rising 50-day moving average at 4166.  This intermediate hurdle also matches the lower limit to the rising intermediate-term trend channel that can be derived around 4165 and 4365.  Momentum indicators, while still showing characteristics of a bullish trend, remain highly tenuous as the slope of the short-term trend shallows compared to prior short-term rallies over the past many months.  The influence of end of month and end of quarter rebalancing on the broad market benchmark remains obvious.

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

• Weekly look at the S&P 500 Index and the limits of its rising range
• Why you may want to limit equity exposure during the next couple of weeks and the historical impact from side-stepping the two weakest periods during the off-season for stocks
• A look at the seasonal trade in the Gold miners

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Sentiment on Friday, as gauged by the put-call ratio, ended bullish at 0.85.

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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