Market breadth is remaining bullish heading through the end of the year, conducive to the normal year-end melt-up in stocks.
*** 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 push higher on Tuesday, seeing the lift that normally surrounds the US Thanksgiving holiday week . The S&P 500 Index ended the session up by just less than six-tenths of one percent, continuing to move higher from support at the 20-day moving average (5904). Short-term declining trendline resistance that was formed by connecting the peaks since November 11th has been broken, leading to the fresh all-time intraday high that was charted during the session. 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
