Equity Clock

Stock Market Outlook for June 30, 2021

The signs of risk aversion that typically precede a market pullback continue to be absent.

 

 

 

*** 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.

Molson Coors Brewing Co. (NYSE:TAP) Seasonal Chart

Walgreens Boots Alliance, Inc. (NASD:WBA) Seasonal Chart

BioSyent Inc. (TSXV:RX.V) Seasonal Chart

iShares S&P 500 Growth ETF (NYSE:IVW) Seasonal Chart

 

 

The Markets

Stocks gravitated towards the flat-line on Tuesday as portfolio managers conduct their final trades to close the books on the month, the quarter, and the first half of the year.  The S&P 500 Index closed essentially unchanged, higher by a mere three basis points (0.03%) as strength in technology once again offset weakness in financials, energy, staples, and utilities.  The change on the day was enough for another record close as the benchmark continues to push past short-term resistance around 4250.  With the benchmark knocking on the door of another important psychological level at 4300, the index is now at the mid-point to the approximately 200-point rising range than spans between 4200 and 4400.  Major moving averages continue to point higher, providing a positive bias across multiple timeframes.

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

• The underperformance of defensive sectors of the market
• Comments on the model portfolio provided to subscribers
• Treasury Bonds
• The change in home prices in the US

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Just Released…

Our monthly report for July has just been sent out to subscribers providing insight on how to position through the month(s) ahead.  Look for this report in your inbox.

Highlights in this report include:

• Equity market tendencies in the month of July
• Favor bonds or stocks?
• The credit market has recovered and what that means for the market
• The two weakest periods in the equity market
• Opportunity to gain exposure to the auto industry
• The trends in vehicle sales highlighting the desire for overseas exposure
• Weak home sales taking a toll on the consumer economy
• The convergence of actual data and analyst forecasts
• Opportunity emerging to ramp up exposure to the ultra large-caps
• Inflationary pressures increasingly placing a strain on the pocketbooks of consumers
• The Canadian Dollar
• Overcoming the currency headwind on commodity exposure
• Strength in shipping activity implying strength in the economy
• Tracking the spread of the virus
• Trading the period of seasonal volatility ahead
• The hedge against summer volatility
• The Summer Rally
• The 12-21 Strategy
• How the market performs at this point in the second year of a market recovery
• Opportunities outside of the US
• The technical status of the S&P 500 Index
• Positioning for the months ahead
• Sector reviews and ratings
• Stocks that have frequently gained in the month of July
• Notable stocks and ETFs entering their period of strength in July

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Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.66.

 

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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