Equity Clock

Stock Market Outlook for November 30, 2020

Breakdown of the US Dollar Index and the Volatility Index presenting a good backdrop for risk assets going into the last month of the year.

 

 

 

*** 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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J.P. Morgan Chase & Co. (NYSE:JPM) Seasonal Chart

Precision Drilling Corp. (NYSE:PDS) Seasonal Chart

ProLogis, Inc. (NYSE:PLD) Seasonal Chart

Stryker Corp. (NYSE:SYK) Seasonal Chart

United Technologies Corp. (NYSE:UTX) Seasonal Chart

Applied Materials, Inc. (NASD:AMAT) Seasonal Chart

Eastern Platinum Ltd. (TSE:ELR.TO) Seasonal Chart

RCI Hospitality, Holdings (NASD:RICK) Seasonal Chart

Blackstone Group LP (NYSE:BX) Seasonal Chart

James Hardie Industries NV (NYSE:JHX) Seasonal Chart

Global X Copper Miners ETF (NYSE:COPX) Seasonal Chart

Invesco DB Base Metals Fund (NYSE:DBB) Seasonal Chart

Direxion Daily Real Estate Bull 3x Shares (NYSE:DRN) Seasonal Chart

iShares MSCI EAFE Small-Cap ETF (NASD:SCZ) Seasonal Chart

Interfor Corp. (TSE:IFP.TO) Seasonal Chart

Amerigo Resources Ltd. (TSE:ARG.TO) Seasonal Chart

Toyota Motor Corp. (NYSE:TM) Seasonal Chart

Banco de Chile (NYSE:BCH) Seasonal Chart

Gibson Energy Inc. (TSE:GEI.TO) Seasonal Chart

BMO Long Provincial Bond Index ETF (TSE:ZPL.TO) Seasonal Chart

iShares MSCI Frontier 100 ETF (AMEX:FM) Seasonal Chart

 

 

The Markets

Stocks gained in a quiet holiday session that followed Thanksgiving in the US.  The S&P 500 Index added just less than a quarter of one percent, enough to achieve another record closing high.  The benchmark continues to hold above the previous 300-point trading range that spanned between 3200 and 3500, which projects upside potential towards 3800.  With a gain of 2.27% on the week, the strength that is typical of the Thanksgiving holiday week has certainly materialized, giving seasonal traders something to be thankful for.  There is only one more trading session in November, a month that has seen extraordinary gains and an expansion of breadth to the likes that has not been seen in years.  We break down what to look out for in the month ahead and how to play it in our monthly outlook that will soon be released to subscribers.  Signup now for access to all of our research that we offer to subscribers.

Soon to be released…

We are busy editing our monthly report for December, providing you with everything you need to know for the month(s) ahead.  Is the rising trend for stocks sustainable?  Is the Gold trade over?  How can you take advantage of the expansion of breadth in the market?  We answer all of these questions and more in this not to be missed report. 

Subscribe now and we’ll send it directly to your inbox when it is released.

And as stock move higher, the Volatility index (VIX) is coming down from the elevated levels it has held through much of the year.  The so-called “fear-gauge” charted the lowest level in over nine months on Friday, continuing to chip away at support presented by February’s upside open gap around 20.

Sentiment on Friday, as gauged by the put-call ratio, ended bullish at 0.74.  As for our gauge of institutional sentiment, the Dark Index, a indication of dark pool activity, ticked mildly higher from 41.3% on Wednesday to 41.5% to close the week.  Generally, levels 45% or higher indicate buying demand.

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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