Stock Market Outlook for August 27, 2021
As we look to the Fed symposium on Friday, this interest rate sensitive sector may be ripe for profit-taking as its period of seasonal strength comes to an end.
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*** 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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Delta Air Lines Inc. (NYSE:DAL) Seasonal Chart
International Bancshares Corp. (NASD:IBOC) Seasonal Chart
Grupo Financiero Galicia S.A. ADS (NASD:GGAL) Seasonal Chart
Curis, Inc. (NASD:CRIS) Seasonal Chart
Corby Spirit and Wine Ltd. (TSE:CSW/A.TO) Seasonal Chart
Invesco Russell Top 200 Equal Weight ETF (AMEX:EQWL) Seasonal Chart
Invesco S&P SmallCap 600 Equal Weight ETF (AMEX:EWSC) Seasonal Chart
Greif Bros. Corp. (NYSE:GEF/B) Seasonal Chart
22nd Century Group, Inc. (AMEX:XXII) Seasonal Chart
County Bancorp, Inc. (NASD:ICBK) Seasonal Chart
Rayonier Advanced Materials Inc. (NYSE:RYAM) Seasonal Chart
WisdomTree U.S. Quality Dividend Growth Fund (NASD:DGRW) Seasonal Chart
iShares Transportation Average ETF (NYSE:IYT) Seasonal Chart
ValueShares US Quantitative Value ETF (AMEX:QVAL) Seasonal Chart
Vanguard S&P Small-Cap 600 Value ETF (NYSE:VIOV) Seasonal Chart
Charles Schwab Corp. (NYSE:SCHW) Seasonal Chart
Albemarle Corp. (NYSE:ALB) Seasonal Chart
Thor Industries, Inc. (NYSE:THO) Seasonal Chart
Steel Connect, Inc. (NASD:STCN) Seasonal Chart
Matson, Inc. (NYSE:MATX) Seasonal Chart
Invesco S&P SmallCap Financials ETF (NASD:PSCF) Seasonal Chart
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The Markets
Stocks slipped on Thursday as investors reacted to the tragic news out of Afghanistan and prepare for the Fed symposium on Friday. The S&P 500 Index ended down by close to six-tenths of one percent, cutting the week-to-date gain in half. Once again, the market is turning lower from around the mid-point to its rising 200-point range that is now getting closer to 4400 and 4600. The lack of enthusiasm amongst investors at these market heights continues to be implied. MACD is still showing signs of negatively diverging from price, also an ongoing testament to the waning buying demand that has been apparent for the past month and a half. Short-term support can still be pegged at the rising 20-day moving average at 4441, while intermediate support at the rising 50-day moving average is the level that every trader/investor has had their eye on for months given the dip-buying opportunities that it has allowed.
Today, in our Market Outlook to subscribers, we discuss the following:
- Retail stocks rolling over from resistance and when our window of opportunity will open to take position in the industry
- REITs and the conclusion of the period of seasonal strength for the sector
- Weekly Jobless Claims and the health of the labor market
- Returning to our ongoing look at the trend of COVID cases in the US
- Natural gas inventories and the seasonal trade for the commodity
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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.86.
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Seasonal charts of companies reporting earnings today:
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S&P 500 Index
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TSE Composite
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