Breadth indicators not yet showing characteristics of a sustainable rising path for stocks.
*** 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.
Super Simple Seasonal Portfolio
This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.
The Markets
Stocks rebounded on Monday as they start to show the type of positivity that is normal surrounding the upcoming Labor Day holiday. The S&P 500 Index gained just less than seven-tenths of one percent, starting to reach back towards the levels of implied resistance at the 20 and 50-day moving averages at 4490 and 4455, respectively. Momentum indicators are starting to show signs of curling higher from their recent slide with Stochastics attempting to emerge from oversold territory below 20. It would be very difficult for the bears to maintain the negative short-term trajectory of stocks into the last holiday of the summer season given the desire of portfolio managers to maintain a neutral bias while they are away from their desks. Still, the broader period of volatility/weakness continues through the end of the third quarter, suggesting that the near-term reprieve is likely to just represent a pause in this correction that could see its lows anywhere down to 4200 while still maintaining a rising intermediate path. Major moving averages at the 100 and 200-day remain below this market, presenting positions to catch it if and when it falls. It would take a definitive break of this cloud of support to define an alternate intermediate-term trajectory.
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
