You're receiving this daily market outlook because you are subscribed to Equity Clock. Want to opt-out and only receive the monthly and intraday reports? Simply reply to this email to let us know.
Having trouble viewing this email? View in your browser.
Equity Clock - Market Outlook for November 28, 2022
Unlike other bear market rallies realized this year, stocks are sustaining their position above their 200-day moving averages for more than just a couple of days.
*** 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:
Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here.
This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.
The Markets
Stocks closed mixed in the holiday shortened Friday session as traders showed no desire to move the tape in any significant manner. The S&P 500 Index closed lower by a mere point (0.03%), trading within a very narrow range just below the declining 200-day moving average. While the short-term trend is still deemed to be positive, supported by the rising 20-day moving average, a minor point of resistance can be picked out at 4030, a high that was initially charted seven session’s ago on November 15th.Hesitation around long-term resistance at the 200-day moving average is implied, suggesting that the benchmark may need a catalyst to move definitively higher above this hurdle in the near-term. A bull-flag and a cup-and-handle pattern on the chart continues to point to an upside objective of 4200, which, if achieved, would see the violation of both the declining 200-day moving average, as well as declining trendline resistance at 4100. Momentum indicators continue to trend higher, relinquishing the characteristics of a bearish trend that have dominated all year.
This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.
Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
If you wish to be excluded from this distribution, simply reply to this email requesting to have your email removed from our list or click on the following link: **Note: You will continue to have access to our reports so long as your subscription at Equity Clock remains active. To manage your subscription to our service, please visit the Members Section at https://charts.equityclock.com/members.
