Precious metals are in focus as their periods of seasonal strength get set to begin.
*** 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 rallied to start the holiday shortened US Thanksgiving week as renewed optimism in growth had investors buying technology and communication services. The S&P 500 Index gained just less than three-quarters of percent, increasingly inching back to resistance at the July high of 4600. The benchmark has now crossed into overbought territory according to the Relative Strength Index (RSI), but this is not deterring traders from buying during this seasonally favourable time of year. The large-cap benchmark is now higher by around 11% since its low charted on October 27th, just as the best six month of the year timeframe for stocks was about to begin. While welcomed, the move is certainly extreme and a period of digestion, at some point, should be expected. The 15-day rate of change has been bordering on the highest level since August 16th of 2022, profiling an extreme move that can make it difficult to draw in the next incremental buyer. The technicals remain supportive of an intermediate-term rising trend into the end of the year, buoyed by major moving averages, but the desire to accumulate new risk exposure in the near-term is low.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
