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Stock Market Outlook for June 25, 2020


S&P 500 Index rolling over from gap resistance as concerns grow over the rising number of coronavirus cases in the US.

 

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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Intelsat Global SA (NYSE:I) Seasonal Chart

Intelsat Global SA (NYSE:I) Seasonal Chart

BB&T Corp. (NYSE:TFC) Seasonal Chart

BB&T Corp. (NYSE:TFC) Seasonal Chart

 

 

The Markets

Stocks closed sharply lower on Wednesday as the rising number of new coronavirus cases in the US raised concerns of another economic shutdown.  The S&P 500 Index shed 2.59%, breaking below previous short-term support at the 20-day moving average.   The benchmark is now testing long-term support at the 200-day moving average at 3020.  Momentum indicators remain on sell signals and they are starting to roll over again as the large-cap benchmark rolls over from resistance around 3130.  In our report to subscribers, we provide more granular details of the range to look for to become re-enticed to stocks and the likely timeframe for equity markets to perform well.  Subscribe now.

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On schedule for the Wednesday session, the Energy Information Administration (EIA) released its tally of petroleum inventories for the week just past. The EIA reported that oil inventories increased by 1.4 million barrels last week, which is, once again, a significant disparity compared to the approximately 300,000 build that was expected by analysts. Gasoline stockpiles, meanwhile, declined by 1.7 million barrels. The result saw the days of supply of oil fall by half of a day to 39.9, while gasoline days of supply dipped by over one and a half days to 32.0. The average days of supply for each at the start of June is 22.7 and 24.5, respectively.  Find out what has us so encouraged by the changing dynamics of supply and demand in the energy market and how to play it going forward in our report released to subscribed intraday.  Subscribe now.

http://charts.equityclock.com/seasonal_charts/economic_data/Crude_Oil_Days_of_Supply_seasonal_chart.PNG

Sentiment on Wednesday, as gauged by the put-call ratio, ended neutral at 0.99.

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Seasonal charts of companies reporting earnings today:

Nike, Inc. Seasonal Chart Accenture plc Seasonal Chart McCormick & Company, Incorporated Seasonal Chart FactSet Research Systems Inc. Seasonal Chart Darden Restaurants, Inc. Seasonal Chart Synnex Corporation Seasonal Chart Worthington Industries, Inc. Seasonal Chart Progress Software Corporation Seasonal Chart Enerpac Tool Group Corp. Seasonal Chart Rite Aid Corporation Seasonal Chart CalAmp Corp. Seasonal Chart Seanergy Maritime Holdings Corp Seasonal Chart Unique Fabricating, Inc. Seasonal Chart Aethlon Medical, Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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