Equity Clock

Stock Market Outlook for June 16, 2021

With the Fed on tap on Wednesday, the limits of the short-term rising span provide logical levels to track to gauge investor reaction and how to position within our portfolio.

 

 

 

*** 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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LKQ Corp. (NASD:LKQ) Seasonal Chart

News Corp. (NASD:NWSA) Seasonal Chart

Bird Construction Inc. (TSE:BDT.TO) Seasonal Chart

ArcBest Corp. (NASD:ARCB) Seasonal Chart

Silver Bull Resources, Inc. (TSE:SVB.TO) Seasonal Chart

Monmouth Real Estate Investment Corp. (NYSE:MNR) Seasonal Chart

Aspen Group, Inc. (NASD:ASPU) Seasonal Chart

Avita Medical Ltd. (NASD:RCEL) Seasonal Chart

Direxion Daily FTSE China Bull 3x Shares (AMEX:YINN) Seasonal Chart

 

 

The Markets

Stocks closed mildly lower on Tuesday as investors await the outcome of the widely anticipated Fed meeting on Wednesday.  The S&P 500 Index shed two-tenths of one percent, continuing to trade within an extremely narrow rising short-term band.  Short-term support remains apparent at the rising 20-day moving average, now just above 4200, while intermediate support at the 50-day moving average around 4175 closely matches the lower band of the intermediate-term trend channel.  The upper limit of the rising intermediate span is now implied around 4375.

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

• The limits of the short-term trend of the S&P 500 Index and how to trade it
• US Retail Sales: What is driving the action and the opportunity to add to one of the areas that is struggling
• US Industrial Production and what the results say about how we should be exposed to core cyclical sectors of the market
• Manufacturer sentiment for June

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Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.71.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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