Inventory injection season for Natural Gas has been much weaker than average, which keeps a tailwind behind the price of the commodity into the high demand winter heating season.
*** 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 traded in a narrow range on Thursday as the pause/digestion in the market continues around levels of significant long-term resistance. The S&P 500 Index gained around a quarter of one percent, showing ongoing reaction to the declining 200-day moving average at 4322 as a level of resistance. Momentum indicators continue to show signs of rolling over around overbought territory, but, while this may result in sell signals with respect to these metrics in the days ahead, characteristics of a bullish trend continue to materialize. Short and intermediate support can continue to be pegged at 20 and 50-day moving averages at 4142 and 3964, respectively. Volume has been waning in recent weeks as the market has climbed higher, but this is just indicative of the summer trading environment that we find ourselves in, a period known for diminished activity and/or volatility.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
