The trend of shipping activity in the US continues to get worse.
*** 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 fairly mixed on Tuesday as traders start to show their hesitation heading into the traditional tax-loss selling period. The S&P 500 Index closed with a gain of a tenth of one percent, continuing to wobble around a seemingly pivotal 4550 level. The hurdle aligns with the downside open gap that was charted at the start of August when the benchmark started its third quarter slide and it seems to be lining up to be level level to start the tax-loss selling period digestion. The Relative Strength Index (RSI) continues to roll over from overbought territory and the MACD histogram continues to narrow, both highlighting the near-term waning buying pressures heading into the softer period for equity market performance on the calendar. Support remains plentiful below, including open levels of gap support and major moving averages, which are slated to keep the more intermediate term rising path intact heading towards the Santa Claus rally period at year-end.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
