April continues the positivity for stocks with the S&P 500 Index gaining an average of 1.9% with an impressive 80% of periods over the past two decades showing a positive result.
*** 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 drifted slightly higher on Thursday to close out the week, month, and quarter on a positive note. The S&P 500 Index ended with a gain of just over one-tenth of one percent after intersecting with the all-time intraday high that was charted a week ago at 5261. A minor point of resistance at this hurdle has become implied heading into the new quarter. Support for the benchmark remains solid at the rising 20-day moving average (5170), a variable hurdle that has supported the grind higher through the first quarter. Characteristics of a bullish trend remain firmly entrenched with moving averages expanding above one another and momentum indicators holding above their middle lines, but the negative divergences with respect to MACD and RSI expresses the lack of investor enthusiasm towards stocks at these heights. The month ahead brings upon a new round of positivity for stocks as start of the quarter fund inflows cap-off the best six month span for the equity market that began at the end of October. Rarely do we see the best six month trend show as orderly of a move higher as what has been observed since last fall, but, even with this climb, signs if excess that would contribute to an imminent peak remain absent, despite the overvaluation that is prominent.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
