March is one of the strongest months of the year for stocks with the S&P 500 Index rising by an average of 1.1% and gaining in 66% of periods over the past five decades.
*** 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 snapped back on Friday, erasing much of the prior session’s decline, as investors shook off the apparent escalation of geopolitical tensions following a tense meeting between Ukraine and US leaders. End of month mechanical buying looks to have been a factor in the late-day surge. The S&P 500 Index ended with a gain of 1.59%, reaching back to resistance and a neutral position over an intermediate-term timeframe at the 50-day moving average (5998). A short-term trading range on the chart can been identified with support around 5830 and resistance around 6100; reaction to the lower bound is currently playing out. Momentum indicators on the daily chart have negatively diverged from price since the middle of last year, highlighting the waning enthusiasm investors had been expressing towards tech-heavy (Mag-7) benchmarks, like this, amidst extreme valuations. Downside risks remain in the near-term to the July/August 2024 highs around 5700, a move that would amount to a 7% pullback from recent heights. This would be a healthy and ordinary correction within a bull market, by any measure. We continue to monitor the potential impact of the apparent rotation in the market on our list of candidates in the market to Accumulate and to Avoid and we have adopted more of a neutral stance as segments that were previously noted as Accumulate candidates fall off (eg. Technology) and as areas to Avoid are added.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
