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 July 25, 2023
The market is finding new places to rotate to now that the growth trade that has flourished this year is showing waning upside momentum.
*** 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 remained afloat on Monday as investors hold the tape steady ahead of a big week for earnings ahead. The S&P 500 Index advanced by four-tenths of one percent, holding just below the 52-week high charted last week at 4578. Evidence of waning upside momentum can be observed as momentum indicators roll over from overbought territory and MACD continues to diverge from price. Still, characteristics of a bullish trend remain with both RSI and MACD holding above their middle lines. Support remains firm at the rising 20-day moving average at 4462 and, without some catalyst presented in the days ahead, a check-back of this and/or the rising 50-day moving average at 4336 are fair game. Seasonally, beyond the month of July, the market enters a more volatile phase and holding excessive levels of risk while stocks are elevated well above levels of support is typically inappropriate, but using any retracement in price during the volatile timeframe is often prudent.
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.
