Emerging strength in emerging markets.
*** 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 edge higher into the end of the month, remaining mitigated from the weakness that is notorious from a seasonal standpoint around this time of year. The S&P 500 Index ended with a gain of a quarter of one percent, remaining above horizontal resistance that was broken last Thursday at 5650. Support remains well defined at the 100-day moving average (5448). With the breakout above resistance, the technicals suggest the continuation of the near-term direction of travel, which is higher, despite being within this weak time of year for equity market performance at the end of the third quarter. Seasonality has us locked into this cautious view of stocks through the remaining days of September, but the strength that the market has been revealing certainly diminishes the threat of an intermediate-term topping pattern that was apparent previous. The groups denoted as Accumulate candidates in our weekly chart books continue to work very well and we will scrutinize our list of Avoid candidates carefully once we get beyond this normally weak period on the calendar that corresponds with end of quarter mean reversion.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
