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Stock Market Outlook for July 14, 2021


Bitcoin continues to struggle below resistance at its declining 50-day moving average.  Find out what we think will happen next and the range that we’ll be enticed to accumulate exposure again.

 

Real Time Economic Calendar provided by Investing.com.

 

 

*** 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.

Exchange Income Corp. (TSE:EIF.TO) Seasonal Chart

Northwest Healthcare Properties Real Estate Investment Trust (TSE:NWH/UN.TO) Seasonal Chart

Applied Industrial Technologies Inc. (NYSE:AIT) Seasonal Chart

Regis Corp. (NYSE:RGS) Seasonal Chart

Simpson Mfg Co, Inc. (NYSE:SSD) Seasonal Chart

BMO Emerging Markets Bond Hedged to CAD Index ETF (TSE:ZEF.TO) Seasonal Chart

Taiga Building Products Ltd. (TSE:TBL.TO) Seasonal Chart

iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) (TSE:XEB.TO) Seasonal Chart

Slate Grocery REIT (TSE:SGR/UN.TO) Seasonal Chart

First Asset Investment Grade Bond ETF (TSE:FIG.TO) Seasonal Chart

BMO Covered Call Canadian Banks ETF (TSE:ZWB.TO) Seasonal Chart

iShares Select Dividend ETF (NASD:DVY) Seasonal Chart

Fidelity MSCI Utilities Index ETF (AMEX:FUTY) Seasonal Chart

iShares Global Tech ETF (NYSE:IXN) Seasonal Chart

 

 

The Markets

Stocks dipped in the Tuesday session as investors sold off core-cyclical bets in the market as the second quarter earnings season officially got underway with reports from some of the big banks.  The S&P 500 Index shed just over a third of one percent, giving back the gain realized in the prior session.  The benchmark reversed from a high of around 4400, a key psychological milestone that provides a logical level for traders to start to book profits.  Short-term support remains intact at the rising 20-day moving average.  While the trends, for the time being, continue to slope higher across multiple timeframes, it is and has been apparent that the market has become tired, which raises the risk of a pullback ahead.  Trend channel support can be pegged just above 4250, a break of which would definitely conclude the intermediate-term trend of higher-highs and higher-lows.  We are not there yet, but the risks are certainly present.

Today, in our Market Outlook to subscribers, we discuss the following:

  • Break of the rising trend for Copper and what it says about the strength of the manufacturing economy
  • Copper producers and the performance of the metal relative to the commodity
  • Cyclical segments of the market showing resistance and what it is suggesting
  • The struggle of Bitcoin below resistance and the range that would entice us to upgrade our view back to Accumulate
  • US Consumer Price Index (CPI) and what is influencing the change in prices

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Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.81.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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