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Equity Clock - Market Outlook for May 2, 2025
Capital investment is being locked up amidst economic uncertainty and this has caused one of the weakest March changes for Private Nonresidential Construction Spending on 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:
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The Markets
Reaction to earnings from a couple of technology titans (Meta and Microsoft) gave lift to the broader market on Thursday as investors attempt to find the light amidst all of the darkness that the economy is clouded in. The S&P 500 Index added just over six-tenths of one percent, continuing to progress above the declining 20-day moving average (5352) and staying afloat above previous short-term resistance at 5500. There remains an implied cap over this market in the range between 5500 and 5800 that would likely require a catalyst to break (eg. progress towards a trade deal with China); without one, look for the sellers to step in around this zone. Indecision candlesticks around the declining 50-day moving average (5591) have been charted over the past two sessions, suggesting some hesitation among investors is already materializing.The daily MACD histogram has started to stall and buying demand from this bear-market rally can be suggested to be waning. This is enticing us to start legging out of equity allocations heading into the offseason for stocks that begins in May as we brace for the next evolution of the intermediate-term trend in the equity market that is leaning negative. We continue to monitor the potential impact of the rotation in the market on our list of candidates in the market to Accumulate and to Avoid, but we have found rotation/buying candidates in recent weeks amidst this market tumult.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
Disclaimer: Comments and opinions offered in this report are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered is believed to be accurate, but is not guaranteed.
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