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 23, 2023
The change in the median price of existing homes sold just slipped below its seasonal average trend for only the second time in the past decade.
*** 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 rallied to end the week as investors cheered fourth quarter earnings from former FANG darling, Netflix (NFLX). The S&P 500 Index closed higher by 1.89%, bouncing from short-term support at the 20-day moving average and reaching back towards resistance at the 200-day moving average at 3,969. Declining trendline resistance at 4,000 remains the overarching threat overhead, although it would take a move above December’s highs of 4100 to start to suggest a shift of trend. The benchmark continues to hold above November’s upside gap between 3770 and 3860, providing a rather neutral view to the benchmark, one that is respecting both levels of support and resistance. Momentum indicators are emphasizing the same neutral bias with RSI and MACD holding around their middle lines. The prevailing declining trend of the benchmark continues to favour the bears, but, as has been mentioned in recent reports, it would take a move below 3877 to flip to an Avoid rating of the benchmark in our weekly chart books.
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.
