Spot of clairvoyance on the Fourth of July? (4)
I believe the answer is:
espy
'spot' is the definition.
('espy' can be a synonym of 'spot')
'clairvoyance on the fourth of july?' is the wordplay.
'clairvoyance' becomes 'esp' ('esp' can be a synonym of 'clairvoyance').
'on' is a charade indicator (letters next to each other).
'the fourth of july?' becomes 'y' (fourth letter of the word 'July').
'esp'+'y'='ESPY'
'of' acts as a link.
(Other definitions for espy that I've seen before include "Detect" , "Watch" , "Make out at a distance" , "Observe (arch.)" , "Observe, notice" .)