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Equity Clock - Market Outlook for November 18, 2022
The performance of the market in 1981/82 may provide an effective blueprint of equity performance through the year 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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The Markets
Stocks closed slightly lower on Thursday as investors reacted to some hawkish Fed speak that sent treasury yields higher. The S&P 500 Index ended down by just less than three-tenths of one percent, continuing to digest the gains from the past week. Horizontal support at 3900 was tested at the lows of the session and buyers stepped in to defend the level as we head into a seasonally positive time of the year with the US Thanksgiving holiday next week. The short-term trend of the market remains positive, supported by its rising 20-day moving average. Momentum indicators are showing the same, rising back above their middle lines in the past week and attempting to relinquish the bearish characteristics that have plagued the the benchmark all year. The span between 3850 and 3900 remains an important zone of support.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
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