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Stock Market Outlook for August 11, 2017

S&P 500 Index breaks trend as fear returns to Wall Street.

 

Real Time Economic Calendar provided by Investing.com.

 

**NEW** As part of the ongoing process to offer new and up-to-date information regarding seasonal and technical investing, we are adding a section to the daily reports that details the stocks that are entering their period of seasonal strength, based on average historical start dates.   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:

Semtech Corporation  (NASDAQ:SMTC) Seasonal Chart

Semtech Corporation (NASDAQ:SMTC) Seasonal Chart

The Travelers Companies, Inc.  (NYSE:TRV) Seasonal Chart

The Travelers Companies, Inc. (NYSE:TRV) Seasonal Chart

Build-A-Bear Workshop Inc (NYSE:BBW) Seasonal Chart

Build-A-Bear Workshop Inc (NYSE:BBW) Seasonal Chart

Brocade Communications Systems (NASD:BRCD) Seasonal Chart

Brocade Communications Systems (NASD:BRCD) Seasonal Chart

CACI Intl, Inc. (NYSE:CACI) Seasonal Chart

CACI Intl, Inc. (NYSE:CACI) Seasonal Chart

NVIDIA Corporation  (NASDAQ:NVDA) Seasonal Chart

NVIDIA Corporation (NASDAQ:NVDA) Seasonal Chart

 

 

The Markets

Fear has returned to Bay and Wall Streets as stocks dipped amidst lingering tensions with North Korea.  The S&P 500 Index shed 1.45% to close below its 50-day moving average, typically a neutral level that investors turn to in times of uncertainty.  Momentum indicators have also dipped into bearish territory.  The move pegs the index below long-term rising trendline support that spans back to the February 2016 low, leaving the market vulnerable to a more prolonged contraction.  Next level of horizontal support can be found at 2400, followed by more significant variable support at the 200-day moving average (2337.22).  Needless to say for our regular followers, seasonal volatility in equity markets is all too common at this time of year, running through to the start of October, on average. 

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S&P 500 Index Seasonal Chart

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Volatility Index (VIX) Seasonality

Sentiment on Thursday, as gauged by the put-call ratio, close surprisingly bullish at 0.93.

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Seasonal charts of companies reporting earnings today:

Applied Industrial Technologies, Inc. (AIT) Seasonal Chart Concordia International Corp. (CXRX) Seasonal Chart  J.C. Penney Company, Inc. Holding Company (JCP) Seasonal Chart Magna International, Inc. (MGA) Seasonal Chart Superior Drilling Products, Inc. (SDPI) Seasonal Chart TELUS Corporation (TU) Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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