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Stock Market Outlook for June 15, 2020


A tough week for stocks that resulted in a retest of levels of support below.

 

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:

Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here.

Gold Fields Ltd. (NYSE:GFI) Seasonal Chart

Gold Fields Ltd. (NYSE:GFI) Seasonal Chart

St Joe Corp. (NYSE:JOE) Seasonal Chart

St Joe Corp. (NYSE:JOE) Seasonal Chart

Barrett Business Services, Inc. (NASD:BBSI) Seasonal Chart

Barrett Business Services, Inc. (NASD:BBSI) Seasonal Chart

America Movil, S.A.B. de C.V. (NYSE:AMOV) Seasonal Chart

America Movil, S.A.B. de C.V. (NYSE:AMOV) Seasonal Chart

Morgan Stanley Emerging Markets Debt Fund Inc. (NYSE:MSD) Seasonal Chart

Morgan Stanley Emerging Markets Debt Fund Inc. (NYSE:MSD) Seasonal Chart

Microsoft Corp. (NASD:MSFT) Seasonal Chart

Microsoft Corp. (NASD:MSFT) Seasonal Chart

Bird Construction Inc. (TSE:BDT.TO) Seasonal Chart

Bird Construction Inc. (TSE:BDT.TO) Seasonal Chart

Wintrust Financial Corp. (NASD:WTFC) Seasonal Chart

Wintrust Financial Corp. (NASD:WTFC) Seasonal Chart

Marcus Corp. (NYSE:MCS) Seasonal Chart

Marcus Corp. (NYSE:MCS) Seasonal Chart

iShares S&P-TSX Global Gold Index ETF (TSE:XGD.TO) Seasonal Chart

iShares S&P-TSX Global Gold Index ETF (TSE:XGD.TO) Seasonal Chart

ArcBest Corp. (NASD:ARCB) Seasonal Chart

ArcBest Corp. (NASD:ARCB) Seasonal Chart

Lithia Motors, Inc. (NYSE:LAD) Seasonal Chart

Lithia Motors, Inc. (NYSE:LAD) Seasonal Chart

The Meet Group, Inc. (NASD:MEET) Seasonal Chart

The Meet Group, Inc. (NASD:MEET) Seasonal Chart

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) Seasonal Chart

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN) Seasonal Chart

iShares S&P 100 ETF (NYSE:OEF) Seasonal Chart

iShares S&P 100 ETF (NYSE:OEF) Seasonal Chart

 

 

The Markets

Stocks found some relief following Thursday’s massive market decline.  The S&P 500 Index closed Friday’s session higher by 1.31%, holding support at the 200-day moving average.  The benchmark ended the day around the 20-day moving average, a hurdle that was broken in the prior day’s session.  Momentum indicators continue to point lower, declining from overbought territory that was seen at the end of the previous week.  These momentum indicators triggered sell signals on Thursday, hinting of a shift in trajectory. 

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Financials and Real Estate were the day’s leaders as sector constituents bounced from previous levels of resistance, now support.  The Financial and REIT ETFs are showing support around their respective rising 20-day moving averages and the 20-day average performance versus the S&P 500 Index continues to point higher, indicative of underlying buying demand.  Seasonally, the financial sector remains out of favour through the month of June, while REITs remain in their seasonal stride through the third quarter. In our market outlook to subscribers, we provide further insight on the factors behind this week’s plunge in stocks.  Subscribe now.

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Financial Select Sector SPDR Fund (NYSE:XLF) Seasonality

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iShares U.S. Real Estate ETF (NYSE:IYR) Seasonality

Sentiment on Friday, as gauged by the put-call ratio, ended close to neutral at 0.98.

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Seasonal charts of companies reporting earnings today:

JinkoSolar Holding Company Limited Seasonal Chart Motorcar Parts of America, Inc. Seasonal Chart Townsquare Media, Inc. Seasonal Chart Limbach Holdings, Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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