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Stock Market Outlook for July 29, 2021


US Dollar Index turning lower from resistance, which bodes well for the seasonal trade in Gold at this time of year.

 

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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Xcel Energy (NASD:XEL) Seasonal Chart

Xcel Energy (NASD:XEL) Seasonal Chart

Old National Bancorp (NASD:ONB) Seasonal Chart

Old National Bancorp (NASD:ONB) Seasonal Chart

Cimpress NV (NASD:CMPR) Seasonal Chart

Cimpress NV (NASD:CMPR) Seasonal Chart

Donegal Group, Inc. (NASD:DGICA) Seasonal Chart

Donegal Group, Inc. (NASD:DGICA) Seasonal Chart

RBC Quant Canadian Dividend Leaders ETF (TSE:RCD.TO) Seasonal Chart

RBC Quant Canadian Dividend Leaders ETF (TSE:RCD.TO) Seasonal Chart

HomeTrust Bancshares, Inc. (NASD:HTBI) Seasonal Chart

HomeTrust Bancshares, Inc. (NASD:HTBI) Seasonal Chart

Acceleron Pharma Inc. (NASD:XLRN) Seasonal Chart

Acceleron Pharma Inc. (NASD:XLRN) Seasonal Chart

Allied Capital Corp. (NYSE:AFC) Seasonal Chart

Allied Capital Corp. (NYSE:AFC) Seasonal Chart

iShares Morningstar Large-Cap ETF (NYSE:JKD) Seasonal Chart

iShares Morningstar Large-Cap ETF (NYSE:JKD) Seasonal Chart

Invesco S&P SmallCap Low Volatility ETF (AMEX:XSLV) Seasonal Chart

Invesco S&P SmallCap Low Volatility ETF (AMEX:XSLV) Seasonal Chart

 

 

The Markets

Stocks closed mixed on Wednesday as investors digested comments from Fed Chair Jerome Powell.  The S&P 500 Index ended in the red by a mere two basis points (0.02%) as weakness in defensive sectors (staples, utilities, and REITs) offset gains in energy and communication services.  Short-term support has been tested around the rising 20-day moving average, while intermediate support remains firm at the rising 50-day moving average.  The limits of the rising intermediate trend channel can be seen at 4300 and 4500.  Earnings continue to be the driver of equity market performance, but, following this reporting period, market volatility is the norm, something that we’ve already seen hints of in recent weeks.

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

  • US petroleum inventories and the path of demand
  • The price of oil
  • US International Trade
  • Canada Consumer Price Index (CPI)
  • The Canadian and US Dollars
  • Gold Miners

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Sentiment on Wednesday, as gauged by the put-call ratio, ended bullish at 0.80.

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Seasonal charts of companies reporting earnings today:

Amazon.com, Inc. Seasonal Chart Mastercard Incorporated Seasonal Chart Comcast Corporation Seasonal Chart Merck & Company, Inc. Seasonal Chart T-Mobile US, Inc. Seasonal Chart Astrazeneca PLC Seasonal Chart Royal Dutch Shell PLC Seasonal Chart Royal Dutch Shell PLC Seasonal Chart American Tower Corporation (REIT) Seasonal Chart Sanofi Seasonal Chart S&P Global Inc. Seasonal Chart Altria Group Seasonal Chart Gilead Sciences, Inc. Seasonal Chart Southern Company (The) Seasonal Chart Edwards Lifesciences Corporation Seasonal Chart Intercontinental Exchange Inc. Seasonal Chart Atlassian Corporation Plc Seasonal Chart Northrop Grumman Corporation Seasonal Chart Vertex Pharmaceuticals Incorporated Seasonal Chart Keurig Dr Pepper Inc. Seasonal Chart TC Energy Corporation Seasonal Chart KLA Corporation Seasonal Chart Lloyds Banking Group Plc Seasonal Chart Fortinet, Inc. Seasonal Chart Digital Realty Trust, Inc. Seasonal Chart DexCom, Inc. Seasonal Chart Baxter International Inc. Seasonal Chart Xcel Energy Inc. Seasonal Chart Yum! Brands, Inc. Seasonal Chart Hershey Company (The) Seasonal Chart Republic Services, Inc. Seasonal Chart Welltower Inc. Seasonal Chart Hilton Worldwide Holdings Inc. Seasonal Chart STMicroelectronics N.V. Seasonal Chart Mettler-Toledo International, Inc. Seasonal Chart ArcelorMittal Seasonal Chart Nokia Corporation Seasonal Chart Skyworks Solutions, Inc. Seasonal Chart CBRE Group, Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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