Price of Coffee is breaking out within its optimal seasonal holding period.
*** 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 lower on Monday following massive market selloff that was realized in the week prior. The S&P 500 Index closed down by two-thirds of one percent after reaching down to levels around support at the rising 50-day moving average just above 4000. This intermediate hurdle had been suggested as a zone that could entice traders to step in to take advantage of the apparent shift of the intermediate trend. Levels down to the June lows are still fair game, but should the market accept a floor at this important hurdle, it would be difficult to be cautious of stocks given the re-adoption of a trend of higher-highs and higher-lows. The end of the month/start of new month could throw off some false signals amidst the end of period portfolio rebalancing, therefore best to tread cautiously. Momentum indicators relinquished characteristics of a bearish trend in the month of July as the market attempts to stabilize following the significant weakness recorded through the first half of the year.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
