You're receiving this daily market outlook because you are subscribed to Equity Clock. Want to opt-out and only receive the monthly and intraday reports? Simply reply to this email to let us know.
Having trouble viewing this email? View in your browser.
Equity Clock - Market Outlook for November 1, 2022
Over the past two decades, the S&P 500 Index has averaged a gain of 1.8% in November with 75% of periods showing a positive result.
*** 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:
Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here.
This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.
The Markets
Stocks closed mixed on the last session of October as investors take a breather following the tremendous rally over the past couple of weeks. The S&P 500 Index closed down by three-quarters of one percent, remaining above recently broken resistance at the 50-day moving average. The declining 100-day moving average at 3900 remains the test as resistance, while the rising 20-day moving average at 3728 remains in a position of support. Momentum indicators remain on the rise and are even inching into the upper half of their ranges, attempting to shake off the characteristics of a bearish trend that have dominated for much of the year. There remains questions pertaining to the intermediate path of stocks, but the short-term trend of lower-lows and lower-highs that stemmed from the intermediate peak in August is deemed to have been broken, which is conducive to continued strength between here are year-end. This is still a counter-trend rally and we must be prepared for any curveballs that may be thrown. Wednesday’s FOMC announcement is certainly notable on our radar.
This content is exclusive to subscribers of EquityClock.com. Please Log In or Subscribe to proceed.
Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
If you wish to be excluded from this intraday distribution, simply reply to this email requesting to have your email removed from our list.
