Coincident indications of the health of the economy looking very good.
*** 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 Wednesday as the ebb and flow in the Technology sector continues. The S&P 500 Index closed down by just less than two-tenths of one percent, continuing to show hesitation around 5200 as portfolio managers scrutinized their allocation to the once hot growth trade. The result is an ongoing negative divergence of momentum indicators versus price, a sign of upside exhaustion and typically a leading indication of a short-term pullback. Short-term support for the large-cap benchmark remains well defined at the rising 20-day moving average (5083). Just around two weeks remains before the quarter comes to a close and portfolio managers will be forced to bring allocations back to investment policy guidelines in order to not be over or underweight any one particular market segment.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
