Over the past decade, the stock market has seen an explosion of information and advice, leading to a lack of interest in looking at monthly data on stocks or ETFs. However, the monthly signals are generally stronger and more reliable than those on a weekly or daily basis. At the end of May, Apple generated a bullish doji buy signal, indicating a potential rise in price to around $222 by the end of July.
As August comes to a close, there are no new monthly doji buy signals for stocks or ETFs. The DTS methodology created by a colleague is used to identify potential buy candidates and stocks showing positive volume and relative performance patterns. American Tower Corp closed July above its downtrend and looks poised for potential growth. Pfizer and Gilead Sciences are below their yearly pivots, while United Healthcare has shown strength and is on track to close above its yearly resistance levels.
Johnson & Johnson closed July above its yearly pivot but still shows a pattern of lower monthly highs. Charter Communications is on watch after a strong gain in July, with the potential for a correction in the near future. The stock market outlook remains positive for the month ahead, as evidenced by powerful gains to end the month.
Overall, monthly signals are important indicators of potential stock market movements. It is crucial for investors and traders to understand and analyze these signals to make informed decisions about their portfolios. Stocks like Apple, American Tower Corp, United Healthcare, and Charter Communications show promise as potential buy candidates, while others like Pfizer and Johnson & Johnson may require further monitoring before making investment decisions. As the stock market continues to show signs of strength, staying informed and vigilant is key to successful investing.
