Equity Clock

Stock Market Outlook for July 17, 2026

Consumers have been cutting back on big-ticket and everyday spending as cost of living/cost of borrowing pressures weigh.

*** 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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Stock Highlight:
Uber Technologies, Inc. (NYSE:UBER) Seasonal Chart	Optimal holding period from July 17th to October 6th The stock is attempting to carve out a bottoming pattern at $68 after suffering from a multi-month declining trend Revenue has shown steady year-over-year gains and Free Cash Flows are similarly on the rise, even as Net Income shows mixed performance.

Southside Bancshares, Inc. (NYSE:SBSI) Seasonal Chart

EuroDry Ltd. (NASD:EDRY) Seasonal Chart

Disclaimer: Comments and opinions offered in this report are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered is believed to be accurate, but is not guaranteed.

The Markets

Further instability in the technology sector amidst an ongoing digestion of strength in the various AI infrastructure segments stood in the way of further market gains heading into the last day of the traditional summer rally period. The S&P 500 Index shed just over half of one percent, plotting short-term double-top resistance at 7580 and slipping back into the recent short-term trading range between 7425 and 7550.  A resolution of the recent horizontal range would project a move towards 7675.  Support on the daily chart is being maintained at 20 and 50-day moving averages (~7460), which have converged on one another in a bearish manner. Daily momentum indicators curled higher at the start of the month, triggering near-term buy signals that aligned nicely with the start of the summer rally phase, but they are starting to show sluggish performance as investors digest the geopolitical risks.  In the Seasonal Advantage Portfolio that we manage for clients at CastleMoore, we remain positioned for this summer rally phase that began on June 27th (S&P 500 Index is strongly higher, above the seasonal norm, since that point).  Following a first half performance in the Seasonal Advantage Portfolio that was well ahead of our own benchmark (as well as all major equity benchmarks in the market), we are still anticipating strength for the start of the second half of the year, but we are scrutinizing the risks that have abruptly escalated with the increase in geopolitical tensions.  The start of earnings season provides some cover to the headline threats.  Subscribers can view what we are targeting in our list of market segments to either Accumulate or Avoid.

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

• The defensive tilt the market is adopting as the Summer Rally Period nears its average peak
• US Retail Sales and the investment implications within
• The rise in retailer inventories
• Weekly jobless claims and the health of the labor market

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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.89.

Seasonal charts of companies reporting earnings today:

S&P 500 Index

TSE Composite

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