Contact | RSS Feed

Stock Market Outlook for August 29, 2023

The reversal of treasury bond prices last week creates a highly enticing risk-reward to look to accumulate positions, using intermediate-term levels of support below as the stop to any holdings.

Real Time Economic Calendar provided by



*** 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.

China Automotive Systems Inc. (NASD:CAAS) Seasonal Chart

China Automotive Systems Inc. (NASD:CAAS) Seasonal Chart

Goodfood Market Corp. (TSE:FOOD.TO) Seasonal Chart

Goodfood Market Corp. (TSE:FOOD.TO) Seasonal Chart

Houlihan Lokey, Inc. (NYSE:HLI) Seasonal Chart

Houlihan Lokey, Inc. (NYSE:HLI) Seasonal Chart


The Markets

Stocks closed with a gain on Monday as the normal positivity that surrounds the Labor day long weekend materializes on cue.  The S&P 500 Index ended higher by six-tenths of one percent, remaining below implied resistance at the 20 and 50-day moving averages, presently around 4450.  Momentum indicators continue to rebound from their lows charted over the past couple of weeks, but they remain below their middle lines, which is characteristic of a bearish trend.  While we have been seeking this reprieve in selling pressures as part of this normal period of volatility through August and September, we have to be prepared for the weakest time of the year for stocks coming up in September, often a period where standing back from risk has historically been beneficial.

Want to know which areas of the market to buy or sell?  Our Weekly Chart Books have just been updated, providing a clear Accumulate, Avoid, or Neutral rating for currencies, cryptocurrencies, commodities, broad markets, and subsectors/industries of the market.  Subscribers can login and click on the relevant links to access.

Subscribe now.

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

  • Our weekly chart books update: Find out what joins our list of Accumulate candidates this week
  • Precious Metals
  • Emerging Market stocks
  • US Treasury Bonds

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for August 29

Not signed up yet?  Subscribe now to receive full access to all of the research and analysis that we publish.

Sentiment on Monday, as gauged by the put-call ratio, ended bearish at 1.08.




Seasonal charts of companies reporting earnings today:

Bank Of Montreal Seasonal Chart Bank of Nova Scotia (The) Seasonal Chart HP Inc. Seasonal Chart Hewlett Packard Enterprise Company Seasonal Chart ZTO Express (Cayman) Inc. Seasonal Chart Best Buy Co., Inc. Seasonal Chart J.M. Smucker Company (The) Seasonal Chart Catalent, Inc. Seasonal Chart Donaldson Company, Inc. Seasonal Chart PVH Corp. Seasonal Chart Box, Inc. Seasonal Chart Evotec SE Seasonal Chart Ambarella, Inc. Seasonal Chart JOYY Inc. Seasonal Chart Golden Ocean Group Limited Seasonal Chart American Woodmark Corporation Seasonal Chart Malibu Boats, Inc. Seasonal Chart Chico's FAS, Inc. Seasonal Chart Shoe Carnival, Inc. Seasonal Chart LexinFintech Holdings Ltd. Seasonal Chart Big Lots, Inc. Seasonal Chart


S&P 500 Index


TSE Composite




Sponsored By...
Seasonal Advantage Portfolio by CastleMoore

Comments are closed.