Equity Clock

Stock Market Outlook for June 15, 2026

Historical blockbuster IPOs have typically experienced substantial post-IPO drawdowns.

*** 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:

Tango Therapeutics Inc. (NASD:TNGX) Seasonal Chart

Optimal holding period from June 13th to September 3rd The stock has been on a strong rising trend over the past year, supported by levels around the 20-week moving average (19.23); Stop loss appropriate at 19.23. The clinical stage biotechnology company has realized highly erratic revenue trends and is still unprofitable.  The stock should be considered highly speculative, despite fulfilling the technical and seasonal prongs to our approach.

Arrowhead Pharmaceuticals, Inc. (NASD:ARWR) Seasonal Chart

Blockchain Technologies ETF (TSE:HBLK.TO) Seasonal Chart

First Internet Bancorp (NASD:INBK) Seasonal Chart

Opko Health Inc. (NASD:OPK) Seasonal Chart

Novavax, Inc. (NASD:NVAX) Seasonal Chart

Waterstone Financial (NASD:WSBF) Seasonal Chart

American Eagle Outfitters, Inc. (NYSE:AEO) 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

Enthusiasm surrounding the SpaceX IPO (SPCX) and a sharp decline in the price of Oil was sufficient to keep broad equity market benchmarks afloat on Friday.   The S&P 500 Index edged higher by five-tenths of one percent, continuing to hold above ultra-short-term declining trendline resistance that had kept the benchmark strained over the past week.  Near-term upside exhaustion became apparent mid-day when the benchmark hit 7450, coinciding with the 20-week moving average that traders have been observed selling into through the past week; confirmation of resistance at the short-term variable hurdle would ingrain a negative trend and start to reshape the character of the market.  A test of levels around the 50-day moving average at 7247 was observed on Wednesday, but, ultimately, levels back to previously broken horizontal resistance around 7000 are still fair game amidst a digestion of early year strength aligned with this weaker period on the calendar before the end of the quarter.  In the Seasonal Advantage Portfolio that we manage for clients at CastleMoore, we had been prepared for a more volatile/risk-off market framework and we have managed to stay afloat in both positive and negative sessions this month, generating significant alpha in the process. The conflict/deal in Iran is the ongoing wildcard, but we have been positioning based on what is tangible (and working), rather than speculation on what may result.  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:

• Weekly look at the large-cap benchmark
• Seasonal Warning: Weakest Part of June Is Still Ahead
• SpaceX IPO: Bullish for Sentiment, Caution for the Stock
• Energy Market: Near-Term Drawdown Risk, Longer-Term Bullish

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Sentiment on Friday, as gauged by the put-call ratio, ended bullish at 0.76.

Seasonal charts of companies reporting earnings today:

S&P 500 Index

TSE Composite

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