The breakdown of the price of Copper is foretelling of a negative backdrop for the economy ahead.
*** 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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Super Simple Seasonal Portfolio
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The Markets
Stocks closed higher on Thursday as portfolio managers rebalanced their books towards those segments that had led the market lower since the year began (eg. technology). The S&P 500 Index closed with a gain of just less than one percent, continuing to show signs of curling higher from the 52-week lows charted in the week prior. Momentum indicators are similarly curling higher in what could amount to a positive divergence compared with price, an indication of waning selling pressures.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
