Topping patterns in a number of areas of the market has forced us to expand our list of market segments to Avoid.
*** 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 generally mixed on Tuesday as traditional growth segments continue to draw funds away from core-cyclical sectors that have been showing evidence of carving out topping setups in the past few weeks. The S&P 500 Index ended essentially unchanged (up 0.02%), remaining below short-term horizontal resistance at 5325. Momentum indicators continue to rollover from their recent peaks with MACD on the precipice of charting a bearish crossover of its signal line, once again confirming the lack of buying demand investors are expressing towards stocks at these heights. The 100-day moving average (5070) remains in a position of support to the rising intermediate-term trend, but signs of upside exhaustion pointed out in the past week threaten a break of this hurdle in the weeks ahead as the market gets into the period of seasonal weakness in June.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
