While the setup for stocks is positive for the year-end seasonal strength, investors should be prepared for the fading of enthusiasm once the new president takes office.
*** 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 ticked higher to start the week as dollar and rate headwinds took a breather. The S&P 500 Index closed higher by nearly four-tenths of one percent, finding support at the 20-day moving average (5862), along with gap support that was opened almost two weeks ago between 5783 and 5864, a zone that was reasonable to be filled before the march higher aligned with seasonal norms continues around the US Thanksgiving holiday. On a intermediate-term scale, there remains greater evidence of support than resistance, presenting characteristics of a bullish trend that remains enticing for the strength that is normally realized in the market at year-end. We continue to like how our list of candidates in the market to Accumulate and to Avoid is positioned, but we are cognizant of changing market dynamics as revelations pertaining to Trump’s initiatives become apparent and as dollar/rate headwinds grow. We continue to scrutinize whether any changes are required in the days/weeks ahead as the price action evolves.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
