Contact | RSS Feed

Stock Market Outlook for June 8, 2018

Reversal of fortune fuels mixed session for stocks.

 

Real Time Economic Calendar provided by Investing.com.

 

*** 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:

Brookfield Renewable Energy Partners LP (TSE:BEP.UN) Seasonal Chart

Brookfield Renewable Energy Partners LP (TSE:BEP.UN) Seasonal Chart

Compass Diversified Holdings (NYSE:CODI) Seasonal Chart

Compass Diversified Holdings (NYSE:CODI) Seasonal Chart

Idacorp, Inc. (NYSE:IDA) Seasonal Chart

Idacorp, Inc. (NYSE:IDA) Seasonal Chart

Inter Pipeline Ltd. (TSE:IPL) Seasonal Chart

Inter Pipeline Ltd. (TSE:IPL) Seasonal Chart

Northland Power Inc. (TSE:NPI) Seasonal Chart

Northland Power Inc. (TSE:NPI) Seasonal Chart

Stewart Information Services (NYSE:STC) Seasonal Chart

Stewart Information Services (NYSE:STC) Seasonal Chart

SP Plus Corp. (NASD:SP) Seasonal Chart

SP Plus Corp. (NASD:SP) Seasonal Chart

MGE Energy, Inc. (NASD:MGEE) Seasonal Chart

MGE Energy, Inc. (NASD:MGEE) Seasonal Chart

 

 

The Markets

Stocks closed mixed on Thursday in a bit of a reversal of fortune as recent outperformers in the technology sector gave way to laggards in amongst energy and utility stocks.  The S&P 500 index closed down by a mere seven basis points, drifting lower amidst a bout of risk aversion ahead of the G7 meeting on Friday and Saturday in Charlevoix, Quebec.  While a reversion to the mean in the month of June is fairly typical, the timing is rather early.  In the last month of the quarter,fund managers will often rebalance portfolios, trimming back those areas that are overweight and adding to areas that are underweight, based on the movement of prices over the prior three months.  With technology once again showing one of the best quarterly performances, a reallocation towards some of the laggards may be a requirement before the month is complete.  Seasonally, weakness in the back half of June attributed to this quarterly rebalance tends to result in ideal buying opportunities for the summer rally period that spans the approximately three week period between June 27th and July 17th.

image

imageimageimage

Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.92.

image

 

 

 

Seasonal charts of companies reporting earnings today:

Aethlon Medical, Inc. (AEMD) Seasonal Chart Lakeland Industries, Inc. (LAKE) Seasonal Chart

 

 

S&P 500 Index

image

image

 

 

TSE Composite

image

image

 

Sponsored By...
Seasonal Advantage Portfolio by CastleMoore

Comments are closed.