The defensive tilt that has materialized in recent days has the prospect of disrupting the massive short bet that managed money have been holding in treasury bond futures.
*** 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 in the green on Wednesday as the market shrugged off a hotter than expected read of infaltionary pressures in the economy. The S&P 500 Index closed with a gain of four-tenths of one percent, remaining elevated above the band of support between 4100 and 4200. The benchmark finds itself in the middle of a range of resistance between the 20 and 50-day moving averages at 4340 and 4410, respectively. For now, yields and the dollar remain the primary drivers of market performance and, so long as they are alleviating their overbought rise charted in recent months, the leeway is present to allow stocks to remain afloat above levels of support.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
