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Stock Market Outlook for June 30, 2020


Previous resistance now support ahead of the notorious summer rally period.

 

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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Profire Energy, Inc. (NASD:PFIE) Seasonal Chart

Profire Energy, Inc. (NASD:PFIE) Seasonal Chart

 

 

The Markets

Stocks gained to start the new week as investors continue to monitor developments pertaining to the spread of the coronavirus in the US.  The S&P 500 Index closed higher by 1.47%, retaking levels back above its 200-day moving average.  The rising 50-day moving average remains in a position of support below.  The consolidation in the benchmark over the past month has occurred around previous horizontal resistance at 3020, the level from which the benchmark broke out above in the fourth quarter of 2019.  While there have been cracks of this zone, as well as the 200-day moving average, in recent weeks, there has not been a definitive break of this significant pivot point, yet.

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Sentiment on Monday, as gauged by the put-call ratio, ended close to neutral at 0.97.

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Seasonal charts of companies reporting earnings today:

FedEx Corporation Seasonal Chart ConAgra Brands, Inc. Seasonal Chart Acuity Brands, Inc. Seasonal Chart Methode Electronics, Inc. Seasonal Chart Avid Bioservices, Inc. Seasonal Chart RTI Surgical Holdings, Inc. Seasonal Chart Exela Technologies, Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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