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Equity Clock - Market Outlook for October 25, 2023
The underperformance of high-beta presents concern pertaining to the risk-on time of year for stocks through the next six months.
*** 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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The Markets
Stocks closed higher on Tuesday as investors looked forward to earnings from a number of tech titans through the days ahead. The S&P 500 Index ended higher by just less than three-quarters of one percent, remaining firm above the significant band of horizontal support between 4100 and 4200. Momentum indicators are attempting to make the turn higher again following the benchmark’s mid-October rejection from resistance at the 50-day moving average. So far, the index has acted with near precision toward levels of technical significance and the bias through the month ahead is for a rebound from the aforementioned band of support coinciding with the start of the best six month of the year timeframe that starts in the next few days.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
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