A number of sectors of the market are rolling over from resistance at 50-day moving averages.
*** 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 lower on Thursday as investors continue to digest the gains that were recorded last week. The S&P 500 Index ended down by eight-tenths of one percent, turning lower from the 100-day moving average and horizontal resistance at 4400. The benchmark finds itself back at the 50-day moving average at 4340, a level that if re-broken could unleash another round of selling pressures to fill last week’s open gap around 4250. While these are all short-term hurdles to monitor, all that matters on an intermediate-term/seasonal basis is that the band of support between 4100 and 4200 holds. Seasonal tendencies for stocks through the middle of November are weak until the period surrounding the US Thanksgiving holiday, after which the positivity that accompanies the best six month of the year timeframe, as well as the year-end rally, returns.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
