Equity Clock

Stock Market Outlook for May 28, 2026

Performance of growth waning relative to value…for now.

*** 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:

Amgen, Inc. (NASD:AMGN) Seasonal Chart

Optimal holding period from May 28th to September 21st A strong bounce from support at the rising 50-week moving average last week hints of the emergence of the seasonal buying demand that typically elevates prices through the summer: Stop loss appropriate at $320 Revenue and Net Income for this Health Care sector constituent have shown steady year-over-year gains and is navigating towards its most profitable time of the year in the September quarter.

Viomi Technology Co. Ltd. (NASD:VIOT) Seasonal Chart

Pacer Lunt Large Cap Alternator ETF (AMEX:ALTL) Seasonal Chart

RMR Group Inc. (NASD:RMR) Seasonal Chart

Amrep Corp. (NYSE:AXR) Seasonal Chart

iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSE:LQD) Seasonal Chart

Idacorp, Inc. (NYSE:IDA) Seasonal Chart

KraneShares MSCI All China Health Care Index ETF (AMEX:KURE) 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

Stocks ended mixed on Wednesday as a further decline in the price of oil and ongoing alleviation in the cost of borrowing failed to entice further buying demand in the red-hot technology sector.   The S&P 500 Index closed essentially unchanged, charting a fairly indecisive candlestick on the day; hesitation around the psychologically important 7500 level can be seen.  The benchmark is staying elevated above short-term horizontal support at 7340, a breakdown below which would project a move back towards the upper limit of the end of April consolidation span around 7150.  While the character of the market remains where levels of resistance hold less weight than levels of support, there are certainly fractures around the periphery as breadth in the market narrows. A daily MACD sell signal was triggered in the past week, closing a long trade with respect to this momentum indicator that began at the start of April.  In the Seasonal Advantage Portfolio that we manage for clients at CastleMoore, we continue to hit new high watermarks and we have prepared for a more volatile/risk-off market framework for the back half of May and into the month of June. The conflict/deal in Iran is the ongoing wildcard and the cues that we have been following that warranted moving towards a more defensive posture in risk assets have not gone away, even with the gyrations in the bond and equity markets to start the week.  Subscribers can view the themes in our chart books to either Accumulate or Avoid that we continue to gear portfolios towards.

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

• The waning performance of Growth over Value and what to do about the shift
• Case-Shiller Home Price Index
• The sluggish trend of real estate and consumer loans
• Consumer Momentum
• Consumer Discretionary stocks

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Sentiment on Wednesday, as gauged by the put-call ratio, ended bullish at 0.80.

Seasonal charts of companies reporting earnings today:

S&P 500 Index

TSE Composite

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