Resource employment in Canada has realized unprecedented growth through the first four months of this year, providing a fundamental nod to commodity related investments heading through the spring.
*** 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 had a mixed showing on Friday as interest rates moved higher following the release of a much stronger than expected employment report in Canada. The S&P 500 Index closed with a gain of nearly two-tenths of one percent, continuing to inch back toward the all-time high around 5260. Support remains firm at the 100-day moving average (5010), a hurdle that is working to support the rising intermediate-term path of stocks and keeping us with a bullish bias of stocks as we head into this off-season for the asset class. Momentum indicators continue to move above the mid-points to their spans with the Relative Strength Index (RSI) now seen reaching towards declining trendline resistance that had been signalling waning buying demand in the market over the past few months. The intermediate-term chart pattern continues to reveal that levels of support continue to have greater significance than levels of resistance, keeping traders on the ready to buy the dips as part of this upward progression in the market that started in October of 2022.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
