Risk-aversion in the market continues to grow.
*** 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 weakened on Tuesday as the bears once again targeted core-cyclical sectors of the market in preparation for a recession on the horizon. The S&P 500 Index slipped by just under six-tenths of one percent, reacting to the zone of resistance between 4100 and 4200. Momentum indicators remain on an upswing and the MACD Buy signal that was triggered on March 21st remains intact. The risk to stocks at this point is quite obvious, which is ongoing rejection from the horizontal range of resistance overhead, representing the level that it broke down from last year, leading to the next wave of selling pressures as the market seeks to come to a new equilibrium. Support continues to be pegged around the December low at 3764.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
