Equity Clock

Stock Market Outlook for July 28, 2021

The year-to-date change of home prices in the US remains record setting, which bodes well for the economy longer-term.

 

 

 

*** 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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Berkshire Hathaway, Inc. (NYSE:BRK/A) Seasonal Chart

Accenture Ltd. (NYSE:ACN) Seasonal Chart

CBOE Global Markets Inc. (AMEX:CBOE) Seasonal Chart

Choice Hotels Intl, Inc. (NYSE:CHH) Seasonal Chart

Purpose Core Dividend Fund (TSE:PDF.TO) Seasonal Chart

Flushing Financial Corp. (NASD:FFIC) Seasonal Chart

Loral Space & Communications, Inc. (NASD:LORL) Seasonal Chart

Telus Corp. (NYSE:TU) Seasonal Chart

BMO Monthly Income ETF (TSE:ZMI.TO) Seasonal Chart

Invesco S&P SmallCap 600 Pure Value ETF (NYSE:RZV) Seasonal Chart

 

 

The Markets

Stocks slipped on Tuesday following another day of steep declines for Asian equities.  The S&P 500 Index shed just less than half of one percent, weighed down by the high momentum technology names that had carried the benchmark in recent weeks.  The benchmark reached back to test levels around its rising 20-day moving average, pegging the short-term hurdle as a level of short-term support.  The benchmark is back to the mid-point to its rising 200-point trading range that hovers between 4300 and 4500.

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

• A look at the short-term trend of the S&P 500 Index: Did Tuesday’s drawdown cause any damage?
• Major benchmarks back to levels of horizontal resistance
• The plunge in the Hong Kong Hang Seng and the target that one particular technical setup suggests
• US Durable Goods Orders and the health of the manufacturing economy
• US Home Prices

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Sentiment on Tuesday, as gauged by the put-call ratio, ended neutral at 1.00.

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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