You're receiving this newsletter because you are subscribed to Equity Clock.
Having trouble viewing this email? View in your browser.
Equity Clock - Market Outlook for August 14, 2024
Managed money is ramping up their short allocation in intermediate treasury bond futures back toward an all-time record.
*** 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 on Tuesday following the release of a softer than expected read of producer prices, thereby raising hopes that the Fed will finally have the cue to cut rates through the remaining months of this year. The S&P 500 Index closed higher by 1.68%, reaching back to short-term resistance at the 20-day moving average (5416). The benchmark has made significant progress to return to levels around the 50-day moving average (5451), reaction to which will be scrutinized closely given the indications it provides pertaining to the path of the intermediate-term (multi-month) trend. The downside gap that was charted on August 2nd between 5384 and 5413 has been closed/filled and a band of supply between 5400 and 5490 is now the test on the upside. Overall, the short-term trajectory remains negative, characterized by the trend of lower-highs and lower-lows off of the summer rally peak on July 16th and the resilience of the intermediate-term trend is being tested as levels of significant resistance are put to the test. The technicals are not yet portraying a sustained intermediate negative path, but the seasonals and fundamentals hint that this is an elevated risk through the months ahead. Caution in risk assets remains 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, visit the Members Section at https://charts.equityclock.com/members
