Everything but Apple and China are two themes that have emerged in the market, threatening some seasonal trades for the start of the year, while providing potential to others that are not exposed.
*** 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 stretched their legs on Monday as investors embraced the removal of significant resistance on the charts of major equity benchmarks last week, fuelling fresh all-time highs. The S&P 500 Index closed with a gain of just over two-tenths of one percent, now around 50 points above previous resistance that capped the benchmark for the past two years at 4800. The target of a short-term bullish head-and-shoulders pattern presented an initial upside target of 4900, something that could easily be achieved this week. Short-term support can be pegged around the rising 20-day moving average at 4764. The positive intermediate-term trend stemming from the October of 2022 low remains firmly intact. Seasonal tendencies for stocks through the first eight to ten weeks of the year point to weakness, but the technicals are not providing anything actionable from a negative point of view.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
