Short-term breadth indicators indicate that this market is oversold around levels of significant support.
*** 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 closed slightly lower on Thursday as investors continue to make a stand around levels of significant support for many benchmarks. The S&P 500 Index shed just over a tenth of one percent, continuing to hold above the horizontal band of support between 4100 and 4200, along with the rising 200-day moving average. The MACD histogram continues to narrow, highlighting the fading of near-term selling pressures around the levels of significance below. Resistance can continued to be pegged around the 20 and 50-day moving averages at 4364 and 4428, respectively. Treasury yields and the US Dollar Index are rolling over from overbought territory, according to the Relative Strength Index (RSI), conducive to achieving a short-term low in stocks; the sustainability of any rebound attempt remains in question so long as both of these headwinds retain a positive slope over an intermediate-term timeframe. Scrutinizing the bond and currency market reaction following the release of the non-farm payroll report on Friday will be prudent.
This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.
Seasonal charts of companies reporting earnings today:
- No significant earnings scheduled for today
S&P 500 Index
TSE Composite
