Equity Clock

Stock Market Outlook for June 15, 2021

End-of-quarter portfolio rebalancing continues to have a dominant influence on market benchmarks, a theme that is average through the weeks ahead.

*** 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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Carmax Inc. (NYSE:KMX) Seasonal Chart

Boston Private Financial Holdings, Inc. (NASD:BPFH) Seasonal Chart

CTS Corp. (NYSE:CTS) Seasonal Chart

Northeast Bank (NASD:NBN) Seasonal Chart

Universal Logistics Holdings, Inc. (NASD:ULH) Seasonal Chart

Espey Mfg. & Electronics Corp. (AMEX:ESP) Seasonal Chart

ProShares Ultra Silver (NYSE:AGQ) Seasonal Chart

iShares U.S. Pharmaceuticals ETF (NYSE:IHE) Seasonal Chart

iShares Global Healthcare ETF (NYSE:IXJ) Seasonal Chart

iShares Global Comm Services ETF (NYSE:IXP) Seasonal Chart

Medley Capital Corp. (NYSE:MCC) Seasonal Chart

 

 

The Markets

Despite the record close in broad market benchmarks on Monday, stocks closed generally mixed as strength in Technology offset weakness realized in the core cyclical bets of Financials, Materials, and Industrials.  The S&P 500 Index tacked on nearly two-tenths of one percent, charting another record closing high.  Short-term support remains apparent at the rising 20-day moving average, now just points away from 4200.  Intermediate support at the 50-day moving average can now be seen at 4171.  Momentum indicators are pointing higher, although the action remains highly tenuous as end-of-quarter rebalancing caps broad buying demand.  Seasonally, end-of-quarter portfolio rebalancing remains a dominant influence in the market until the last couple of days of June.

Want to know which areas of the market to buy or sell?  Our Weekly Chart Books have just been updated, providing a clear Accumulate, Avoid, or Neutral rating for currencies, cryptocurrencies, commodities, broad markets, and subsectors/industries of the market.  Subscribers can login and click on the relevant links to access.

• Currencies
• Cryptocurrencies
• Commodities
• Major Benchmarks
• Sub-sectors / Industries

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Today, in our Market Outlook to subscribers, we discuss the following:

• Notable ratings changes in this weeks chart books, including two downgrades in the financial sector and an upgrade in the healthcare sector
• Signs of support for the US Dollar
• Canada Manufacturing Sales and what the trends in activity imply for our portfolio

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Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.71.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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