While the manufacturing economy may be in recession, there are segments that are flourishing and their exposure in investment portfolios is adding significant alpha.
*** 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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Note: With holiday closures of markets in Canada and the US on Monday and Tuesday, our next report will be released on Wednesday, December 27th.
Super Simple Seasonal Portfolio
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The Markets
Stocks had a muted showing in the last trading session before the Christmas holiday with major benchmarks remaining close to the flat-line on the day. The S&P 500 Index closed with a gain of just less that two-tenths of one percent, charting a rather indecisive doji candlestick within the range of Wednesday’s downside candlestick that provided an abrupt shock to the bullish thesis that has prevailed heading into the end of the year. The Relative Strength Index (RSI) is back into overbought territory, although it has come off of the most elevated level since September of 2020 and is suggested to be rolling over. Momentum indicators are remaining above their middle lines and moving averages are pointing higher, characteristic of a bullish trend. While we don’t have much reason to expect a peak in the market amidst the Santa Claus rally period through year end, it would not be surprising to see a give-back/digestion of the recent strength through the first couple of months of the new year amidst a seasonally weaker period beyond the first week of January.
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Seasonal charts of companies reporting earnings today:
- No Significant Earnings Scheduled for Today
S&P 500 Index
TSE Composite
