October, while volatile, has historically been a positive month for stocks with the S&P 500 Index averaging a return of 1.3%.
*** 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 little changed in the final session of September, capping off the third quarter and bringing an end to the weakest time of the year for equity market. The S&P 500 Index closed with a loss of just over a quarter of one percent, continuing to stake a short-term low above significant support at 4200. At the high of the session, the benchmark surpassed the 4313 hurdle that we highlighted in recent reports as providing indication that a short-term low has been achieved, defining the setup to see a reprieve of near-term selling pressures heading into the new month and quarter. Momentum indicators continue to show early signs of bottoming following the slide that has been realized of prices during what is normally the weakest two-week span of the year for stocks. Resistance can be pegged overhead at the declining 20 and 50-week moving averages at 4409 and 4452, respectively.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
