Stocks are surging higher from the gaps that were opened following election day, confirming the zone as support.
*** 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 moved generally higher on Thursday as investors took advantage of the recent pullback in the market to load up on risk for the positive seasonal tendencies that tend to elevate stocks between now and year-end. The S&P 500 Index closed higher by just over half of one percent, moving higher from support at the 20-day moving average (5878), along with gap support that was opened around two weeks ago between 5783 and 5864, a zone that was reasonable to be filled before the march higher aligned with seasonal norms continued around the US Thanksgiving holiday. On a intermediate-term scale, there remains greater evidence of support than resistance, presenting the desired backdrop for strength that is normally realized in the market at year-end. Major moving averages are all pointed higher and momentum indicators continue to gyrate above their middle lines, providing characteristics of a bullish trend. Our list of candidates in the market to Accumulate and to Avoid remains well positioned to benefit from the strength that is filtering into the market at this seasonally strong time of year, but we will scrutinize whether any changes are required as the price action evolves.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
