July is the second strongest month of the year for stocks with the S&P 500 Index averaging a gain of 2.2% and 75% of periods have closed higher.
*** 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.
Super Simple Seasonal Portfolio
This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.
Note: Due to the Canada Day and Independence Day holiday closures of markets in Canada and the US, our next report will be released on Wednesday, July 5th. Have a great long weekend everyone!
The Markets
Stocks closed strongly higher on Friday as the normal summer rally stretches its legs given the chase for performance/window-dressing into quarter-end and the investment of new funds in the market at the start of the new quarter in July. The S&P 500 Index rallied by 1.23%, charting a fresh 52-week high and continuing to bounce from the 20-day moving average that now sits at 4351. Momentum indicators have curled back higher and RSI is once again knocking on the doorstep of overbought territory at 70. Characteristics of a bullish trend have become well ingrained, supportive of the normal rise in prices that we see of this mid-year period. In our monthly report for July released to subscribers, we make the contention that the large-cap benchmark has the momentum to reach 4,600 as part of this upside thrust, a target based on the calculated move of the breakout from the 400-point span between 3800 and 4200. Following that point and heading into the most volatile time of the year spanning the remainder of the third quarter, the need for renewed caution will exist.
This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.
Seasonal charts of companies reporting earnings today:
- No significant earnings scheduled for today.
S&P 500 Index
TSE Composite
