You're receiving this daily market outlook because you are subscribed to Equity Clock. Want to opt-out and only receive the monthly and intraday reports? Simply reply to this email to let us know.
Having trouble viewing this email? View in your browser.
Equity Clock - Market Outlook for January 13, 2023
Initial jobless claims just showed the largest percentage increase for the first week of the year in decades, hinting of the start of degradation in the labor market.
*** 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:
Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here.
This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.
The Markets
Stocks closed higher on Thursday as investors interpreted the softening of inflationary pressures as reason for the Fed to step back from its aggressive tightening path. The S&P 500 Index gained a third of one percent, reaching back to and intersecting with declining trendline resistance and the 200-day moving average at 4,000. This is a make or break point for the path of the intermediate to long-term trend and investor reaction to this zone will be heavily scrutinized. Momentum indicators remain on an upswing following Friday’s bullish crossover of MACD and its signal line and they are now pushing into the upper half of their ranges, attempting to relinquish characteristics of a bearish trend that had been observed through the past few weeks. The large-cap benchmark is flirting with short-term overbought territory, which, barring some upside catalyst, could cap the price action in the near-term until greater clarity of the health of the fundamentals of stocks are obtained from the upcoming earnings season that gets underway with the big banks on Friday. Seasonally, the big banks, including JPM, BAC, and WFC, tend to trade lower, on average, following the release of fourth quarter results.
This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.
Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
If you wish to be excluded from this distribution, simply reply to this email requesting to have your email removed from our list or click on the following link: **Note: You will continue to have access to our reports so long as your subscription at Equity Clock remains active. To manage your subscription to our service, please visit the Members Section at https://charts.equityclock.com/members.
