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Equity Clock

Equity Clock - Market Outlook for August 1, 2023

Over the past 20 years, the S&P 500 Index has gained 0.1%, on average, and 60% of periods have produced a positive result.

*** 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:

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Polo Ralph Lauren Corp. (NYSE:RL) Seasonal Chart

Polo Ralph Lauren Corp. (NYSE:RL) Seasonal Chart

Best Buy Co, Inc. (NYSE:BBY) Seasonal Chart

Best Buy Co, Inc. (NYSE:BBY) Seasonal Chart

Blackrock, Inc. (NYSE:BLK) Seasonal Chart

Blackrock, Inc. (NYSE:BLK) Seasonal Chart

Douglas Dynamics Inc. (NYSE:PLOW) Seasonal Chart

Douglas Dynamics Inc. (NYSE:PLOW) Seasonal Chart

21Vianet Group Inc. (NASD:VNET) Seasonal Chart

21Vianet Group Inc. (NASD:VNET) Seasonal Chart

CSW Industrials, Inc. (NASD:CSWI) Seasonal Chart

CSW Industrials, Inc. (NASD:CSWI) Seasonal Chart

Aurora Cannabis Inc. (NASD:ACB) Seasonal Chart

Aurora Cannabis Inc. (NASD:ACB) Seasonal Chart

 

Super Simple Seasonal Portfolio


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The Markets

Stocks closed marginally higher on Monday as investors squared away positions ahead of the end of July.  The S&P 500 Index squeezed out a gain of just over one-tenth of one percent in the final minutes of the session in typical window dressing fashion.  Price continues to hover in the range of Thursday’s bearish engulfing candlestick, which highlighted hesitation among investors to buy around our proposed summer rally target of 4600.  The divergence with respect to MACD attests to the same waning upside momentum at these heights.  Support remains persistent at the rising 20-day moving average, now at 4508, and moving averages continue to fan out in a bullish manner, providing many points of reference below to catch the market should volatility in fact materialize as per seasonal norms in August and September.  As profiled in the real-time seasonal charts at the bottom of this report for the S&P 500 Index and the TSX Composite, the trend of the equity market into the month of October is nothing to be enticed by to be aggressive in stocks and caution is typically the order of the day, particularly if there are no catalysts behind stocks to drive prices higher.



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Seasonal charts of companies reporting earnings today:

Merck & Company, Inc. Seasonal Chart Pfizer, Inc. Seasonal Chart Advanced Micro Devices, Inc. Seasonal Chart Caterpillar, Inc. Seasonal Chart BP p.l.c. Seasonal Chart Starbucks Corporation Seasonal Chart Vertex Pharmaceuticals Incorporated Seasonal Chart Altria Group Seasonal Chart Eaton Corporation, PLC Seasonal Chart Illinois Tool Works Inc. Seasonal Chart Marriott International Seasonal Chart Marathon Petroleum Corporation Seasonal Chart Ecolab Inc. Seasonal Chart Pioneer Natural Resources Company Seasonal Chart IDEXX Laboratories, Inc. Seasonal Chart Aflac Incorporated Seasonal Chart American International Group, Inc. Seasonal Chart IQVIA Holdings, Inc. Seasonal Chart Sysco Corporation Seasonal Chart Rockwell Automation, Inc. Seasonal Chart Electronic Arts Inc. Seasonal Chart AMTEK, Inc. Seasonal Chart MPLX LP Seasonal Chart Prudential Financial, Inc. Seasonal Chart Devon Energy Corporation Seasonal Chart Public Service Enterprise Group Incorporated Seasonal Chart Ares Management Corporation Seasonal Chart Allstate Corporation (The) Seasonal Chart Zimmer Biomet Holdings, Inc. Seasonal Chart Global Payments Inc. Seasonal Chart WEC Energy Group, Inc. Seasonal Chart Gartner, Inc. Seasonal Chart FirstEnergy Corp. Seasonal Chart Paycom Software, Inc. Seasonal Chart Howmet Aerospace Inc. Seasonal Chart Service Corporation International Seasonal Chart Sirius XM Holdings Inc. Seasonal Chart Exact Sciences Corporation Seasonal Chart Zebra Technologies Corporation Seasonal Chart Stanley Black & Decker, Inc. Seasonal Chart Watsco, Inc. Seasonal Chart Molson Coors Beverage Company Seasonal Chart

 

S&P 500 Index

TSE Composite

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