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Stock Market Outlook for May 27, 2020


Home prices continue to rise above average, despite the shutdown of the economy related to the coronavirus.

 

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:

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Aramark (NYSE:ARMK) Seasonal Chart

Aramark (NYSE:ARMK) Seasonal Chart

Apyx Medical Corp. (NASD:APYX) Seasonal Chart

Apyx Medical Corp. (NASD:APYX) Seasonal Chart

iShares Gold Bullion ETF (TSE:CGL.TO) Seasonal Chart

iShares Gold Bullion ETF (TSE:CGL.TO) Seasonal Chart

 

 

The Markets

Stocks gained on Tuesday as investors continue to be encouraged by the reopening of the economy.  The S&P 500 Index closed with a gain of 1.23%, ending just below the widely scrutinized 200-day moving average.  The long-term average was broken intraday, but it was unable to hold as support into the closing bell following rumours that the US may enact sanctions against China.  Financials and industrials were the winners during the session as the rotation away from defensive areas of the market continues.  Technology and health care closed in the red.

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We are thrilled to announce the launch of Weekly Chart Books, highlighting the technical status of a wide array of financial instruments.  These chart books will be updated weekly, providing an up-to-date view of whether you should avoid or accumulate a certain segment of the market.  Look for more chart books in the weeks ahead as we broaden out this service, which is included with your subscription to Equity Clock.  Simply login to the web portal at https://charts.equityclock.com/ and look for the heading “Weekly Chart Books” on the left hand side of the reports archive.

Below are the links to this week’s Chart Books:

On the housing front, Case-Shiller released its look at home prices through the end of the first quarter.  The headline print of the S&P Corelogic Case-Shiller Home Price Index increased by 0.5% in March, stronger than the 0.3% increase that was expected.  Stripping out the seasonal adjustments, the increase was actually 1.1% in March, which is much stronger than the 0.3% increase that is average for this time of year.  The result places the year-to-date change 1.6% above the seasonal average trend, which is among the better rates in the past decade.  We provide more commentary on the strength in home prices and what it means for the economy in our soon to be released monthly outlook for June.  Subscribe now to be included on our distribution list and you’ll receive our extensive monthly report directly in your inbox.  Subscribers can login to the chart database to see where the areas of strength are across the largest cities in the US: https://charts.equityclock.com/sp-corelogic-case-shiller-home-price-index-city-breakdown

S&P/Case-Shiller 20-City Composite Home Price Index Seasonal Chart

Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.81.

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Seasonal charts of companies reporting earnings today:

Royal Bank Of Canada Seasonal Chart Autodesk, Inc. Seasonal Chart Workday, Inc. Seasonal Chart Bank Of Montreal Seasonal Chart HP Inc. Seasonal Chart Vipshop Holdings Limited Seasonal Chart NetApp, Inc. Seasonal Chart Credit Acceptance Corporation Seasonal Chart Amerco Seasonal Chart Ralph Lauren Corporation Seasonal Chart The Descartes Systems Group Inc. Seasonal Chart Toll Brothers, Inc. Seasonal Chart Coherent, Inc. Seasonal Chart Semtech Corporation Seasonal Chart Box, Inc. Seasonal Chart QAD Inc. Seasonal Chart Photronics, Inc. Seasonal Chart SpartanNash Company Seasonal Chart Columbus McKinnon Corporation Seasonal Chart Plantronics, Inc. Seasonal Chart Redhill Biopharma Ltd. Seasonal Chart Genesis Healthcare, Inc. Seasonal Chart Townsquare Media, Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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