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 March 7, 2023
The price of your morning $JO may be poised decline as Coffee futures enter their weakest time of the year and as price rolls over from its declining 50-week moving average.
*** 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 waivered in the first session of the trading week as investors looked forward to some important economic datapoints and Fed speak through the days ahead. The S&P 500 Index closed essentially unchanged after reaching up to close proximity of horizontal resistance at 4100 earlier in the session. A confluence of support presented by major moving averages in the range between 3900 and 4000 continues to backstop this market, showing a technical profile that is a shift from that of the previous year when major moving averages worked to cap upside momentum.The benchmark is showing increasing signs of being supported rather than being restricted by levels of resistance and this is the type of framework technically that investors should always look for when seeking to express an upside bias. An intermediate trend of higher-highs and higher-lows stemming from the October lows remain intact, a characteristic shared by the slope of the 50-day moving average. While we still find it difficult to shift from our neutral view of the large-cap benchmark, there is still plenty that we are bullish on, many of which were upgraded today as part of our weekly chart books update.Seasonally, the period between now and the start of April is traditionally bullish for stocks, representing the book-end to the best six months for year for risk assets that began in October. The first part of this best six month timeframe between October and January was widely positive for stocks and we do not have good reason to suspect that the next six to eight weeks will show any different. Stocks are expected to return to a tougher period between May and August.
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.
