The S&P 500 Index has averaged a return of 1.1% in the month of October over the past 50 years with a frequency of gains during the month of 60%.
*** 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 mildly lower on Friday as portfolio managers enacted final trades before the third quarter comes to a close on Monday. The S&P 500 Index ended down by just over a tenth of one percent, pulling back slightly from the fresh record high achieved in the previous session. Evidence of waning of near-term upside momentum can be seen. The benchmark remains above horizontal resistance that was broken last Thursday at 5650 and support remains well defined at the 100-day moving average (5466). Seasonality has us locked into a cautious view of stocks through the remaining days of September and the near-term evidence of upside exhaustion hints that we could still get another test lower before the end of the month and, possibly, into the start of the next. 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
