Equity Clock

Stock Market Outlook for June 25, 2021

Natural gas ETF breaking out of a massive bottoming pattern as the change in inventories falls below average through this point in the year.

 

 

 

*** 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.

Walmart Inc. (NYSE:WMT) Seasonal Chart

Immunovaccine Inc. (TSE:IMV.TO) Seasonal Chart

Colfax Corp. (NYSE:CFX) Seasonal Chart

Tempur-Pedic Intl Inc. (NYSE:TPX) Seasonal Chart

Direxion Daily Technology Bull 3x Shares (NYSE:TECL) Seasonal Chart

 

 

The Markets

Stocks gained on Thursday as Joe Biden declared that an infrastructure deal had been struck with a bipartisan group of senators.  The S&P 500 Index climbed to a new record high, gaining just over half of one percent on the session.  The intermediate rising trend of the benchmark continues to be supported by the rising 50-day moving average, which is closely tracking the lower limit of the rising trend channel around 4200.  The upper limit to the rising span can be pegged around 4400.  Momentum indicators have swung back around and MACD now looks like it may cross back above its signal line, just a week following the bearish crossover that appeared so threatening.  A bullish cross would diminish the threat that the sell signal with respect to the momentum indicator flashed previously, particularly at the lower level than the bearish cross that preceded it.  Major moving averages are all pointing higher, giving a positive bias to multiple timeframes.

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

• The strategy for the “Summer Rally” period ahead and ETFs that look enticing
• Weekly jobless claims and what they say about the health of the labor market
• Natural gas inventories and our trade in the commodity
• US Durable Goods Orders and what is causing the strain in manufacturing activity
• The strength in primary metal manufacturing and how to play it

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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.68.

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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