Equity Clock

Stock Market Outlook for July 22, 2026

The cues that would traditionally turn off bull market trends in stocks are presently absent heading into what is a notoriously volatile time of the year between August and October. 

*** 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:
Air Products and Chemicals, Inc. (NYSE:APD) Seasonal Chart	Optimal holding period from July 22nd to November 14th The stock has derived support at the 50-week moving average and a bull-flag charted in the past month from this hurdle proposes an upside target towards $355 Revenues show an abnormal increase during the second quarter, juicing free cash flows, benefiting from the strength in the manufacturing economy

VanEck IG Floating Rate ETF (NYSE:FLTR) Seasonal Chart

iShares Floating Rate Bond ETF (NYSE:FLOT) Seasonal Chart

Bankwell Financial Group, Inc. (NASD:BWFG) Seasonal Chart

Dynamic iShares Active U.S. Dividend (TSE:DXU.TO) Seasonal Chart

TechPrecision Corp. (NASD:TPCS) Seasonal Chart

Timberland Bancorp, Inc. (NASD:TSBK) Seasonal Chart

Capital City Bank Group (NASD:CCBG) Seasonal Chart

Northwest Bancshares, Inc. (NASD:NWBI) Seasonal Chart

Koppers Holdings Inc. (NYSE:KOP) Seasonal Chart

FutureFuel Corp. (NYSE:FF) Seasonal Chart

BMO S&P/TSX Equal Weight Banks Index ETF (TSE:ZEB.TO) 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

A recovery in semiconductor stocks and other AI beneficiaries heading into a busy earnings reporting period worked to fuel a rebound in the market on Tuesday. The S&P 500 Index gained by nine-tenths of one percent, continuing to play by the limits of the short-term trading range between 7425 and 7550.  A resolution of the span proposes a move of 125-points in the direction of break, either to 7675 or 7300.  Support on the daily chart is being maintained around 20 and 50-day moving averages (~7469), which have converged on one another in a bearish manner. Daily momentum indicators have rolled over in recent days with MACD triggering a fresh sell signal, now aligning with the end of the summer rally period that came to an end on July 17th.  In the Seasonal Advantage Portfolio that we manage for clients at CastleMoore, we remain positioned in a bullish manner.  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, despite the recent uptick in volatility, 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:

• Bullish cues for stocks persist heading into the period of seasonal volatility
• Canada Consumer Price Index (CPI) and the investment implications within

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for July 22

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Sentiment on Tuesday, 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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