S&P 500 Index is back to resistance at the July high, presenting a pivotal point for the market heading into the tax-loss selling period that dominates the first half of December.

*** 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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Vanguard Mid-Cap Growth ETF (NYSE:VOT) Seasonal Chart

Invesco Trust for Investment Grade Municipals (NYSE:VGM) Seasonal Chart

Teucrium Soybean Fund (NYSE:SOYB) Seasonal Chart

Credit Suisse X-Links Silver Shares Covered Call ETN (NASD:SLVO) Seasonal Chart

iShares Edge MSCI Multifactor Emerging Markets ETF (AMEX:EMGF) Seasonal Chart

SSR Mining Inc. (TSE:SSRM.TO) Seasonal Chart

Canacol Energy Ltd. (TSE:CNE.TO) Seasonal Chart

Edwards Lifesciences Corp. (NYSE:EW) Seasonal Chart

Sasol Ltd. (NYSE:SSL) Seasonal Chart

Whirlpool Corp. (NYSE:WHR) Seasonal Chart

Walgreens Boots Alliance, Inc. (NASD:WBA) Seasonal Chart

Invesco MSCI Global Timber ETF (NYSE:CUT) Seasonal Chart

iShares Core MSCI Emerging Markets IMI Index ETF (TSE:XEC.TO) Seasonal Chart

Canfor Pulp Products Inc. (TSE:CFX.TO) Seasonal Chart

Gibson Energy Inc. (TSE:GEI.TO) Seasonal Chart

Western Forest Products Inc. (TSE:WEF.TO) Seasonal Chart

Finning Intl, Inc. (TSE:FTT.TO) Seasonal Chart

ARK Autonomous Technology & Robotics ETF (AMEX:ARKQ) Seasonal Chart

 

Super Simple Seasonal Portfolio

 

The Markets

Stocks jumped on Friday as start of the month inflows and a renewed push lower in interest rates gave new life to the market after showing signs of stalling in recent days.  The S&P 500 Index ended with a gain of just less than six-tenths of one percent, reaching back to previous resistance at the July high of 4600.  The move has given reprieve to the near-term rollover of momentum indicators, which had been pulling back from overbought territory as investors refrained from adding new risk ahead of the traditional tax-loss selling period that spans the first half of December.  The Relative Strength Index (RSI) is once again reaching above 70 and the contraction of the MACD histogram has taken a pause.  Still, while the break of the recent consolidation range around the 4550 is promising to continue the normal strength in the market that runs through the last couple of months of the year, the near-term risk-reward to adding new equity exposure remains less than ideal at the present time.  For our intermediate-term strategy that seasonality encompasses, we are still left with nothing to do and remain fully invested (no cash), whether it be in stocks, bonds, or commodities, a position we have retained since October.  We will be looking for our next intermediate-term signal to sell around the end of the year, but, for now, stay the course.

 

 

 

Seasonal charts of companies reporting earnings today:

 

S&P 500 Index

 

TSE Composite