Equity Clock

Stock Market Outlook for August 17, 2021

The heat in the manufacturing economy has cooled with the price of copper remaining the tell.

 

 

 

*** 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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Invesco Ltd. (NYSE:IVZ) Seasonal Chart

Ross Stores, Inc. (NASD:ROST) Seasonal Chart

Penns Woods Bancorp, Inc. (NASD:PWOD) Seasonal Chart

Nexstar Media Group, Inc. (NASD:NXST) Seasonal Chart

Ampio Pharmaceuticals, Inc. (NYSE:AMPE) Seasonal Chart

Halozyme Therapeutics Inc. (NASD:HALO) Seasonal Chart

Diamond Hill Investment Group, Inc. (NASD:DHIL) Seasonal Chart

Allison Transmission Holdings, Inc. (NYSE:ALSN) Seasonal Chart

iShares MSCI Emerging Markets Index ETF (TSE:XEM.TO) Seasonal Chart

BMO MSCI Emerging Markets Index ETF (TSE:ZEM.TO) Seasonal Chart

 

 

The Markets

Stocks closed mixed on Monday as investors adopted a defensive tilt following a selloff in stocks overseas.  The S&P 500 Index punched out a gain of just over a quarter of one percent, remaining supported in the short-term at its rising 20-day moving average.  Intermediate support can be pegged at the rising 50-day moving average at 4337.  The benchmark remains stuck around the mid-point to its rising 200-point trading range between 4350 and 4550.  This remains a market that has not provided a catalyst to sell, but it also has not given reason to rejuvenate animal spirits that proliferated between March of 2020 and May of 2021.  The grind continues.

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 upgrades and downgrades in this week’s chart books; Find out what has been moved up to our list of areas to Accumulate this week
• Canada Manufacturing Sales and what is driving activity
• Auto Part Manufacturer stocks
• Empire State Manufacturer Index
• The price of Copper

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Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.87.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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