The jump in the VIX over the past couple of sessions suggest that the period of volatility for stocks has arrived.
*** 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 continued to selloff on Thursday now that the growth (technology) trade has lost its lustre and given the conclusion to the average summer rally timeframe. The S&P 500 Index fell by almost eight-tenths of one percent, reaching back to short-term support at its 20-day moving average (5539). A short-term downside gap remains open between 5622 and 5658, a zone that will likely work to cap the the summer rally that has now past its average peak. Major moving averages continue to fan out positively, but any pressuring of these zones as support could shift this bullish characteristic through the months ahead. Wednesday’s abrupt downturn has pulled the Relative Strength Index (RSI) out of overbought territory to now sit at the lowest level in a month and a half, suggesting a near-term peak to this momentum indicator and providing a near-term signal to sell as we head towards the most volatile period on the calendar in August, September, and October. The time is here to prepare portfolio strategy for the period of volatility for stocks that runs through the next three months.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
