Price of Bitcoin showing indecision as buying pressures for some of this year’s market leaders wane.
*** 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 received lift early into the new week as the growth trade saw new life amidst deal news between Google (GOOGL) an Apple (AAPL). The S&P 500 Index closed with a gain of just over six-tenths of one percent, reaching back towards the all-time intraday high charted a week and a half ago around 5189. Short-term resistance at this aforementioned hurdle can be easily picked out, threatening to cap the advance of the equity market in the near-term as portfolio managers continue to shuffle the deck in their allocations ahead of the end of the quarter. Short-term support remains evident at the rising 20-day moving average (5103). Upside exhaustion in equity prices remains best portrayed by the divergence of momentum indicators (RSI and MACD) versus price as market participants scrutinize whether adding new positions is prudent around these market heights. The intermediate-term path of the benchmark, which is the focus in our seasonal approach, remains definitively positive and is not expected to show anything that could be deemed negative until at least the start of the “off-season” for stocks that begins in May.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
