Interest rate sensitive segments of the market break out as inflationary pressures breakdown.
*** 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 closed higher to end the week as the market makes an attempt at rotation towards some of this year’s laggards. The S&P 500 Index gained just over half of one percent, seemingly “bobbing” around the 5600 level that the benchmark been hovering around since Wednesday. Short-term support can continue to be pegged at the rising 20-day moving average (5408), working in a position to support this mid-year period of strength that normally runs into the middle of July. Major moving averages continue to fan out in a positive manner, which is characteristic of a bullish trend and is conducive to providing the positive backdrop that is upon us. The consecutive back-to-back daily gyrations has pushed the Relative Strength Index (RSI) back into overbought territory above 70, still highlighting a buying demand for stocks around these record heights. The period of average volatility follows this strong mid-year period for stocks, therefore planning out stops on current holdings may be prudent to assure that risk mitigation efforts through August, September, and October are deployed effectively while looking for the opportunity to overweight bond market allocations.
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Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
