Equity Clock

Stock Market Outlook for December 8, 2020

Ratio of the Gold Miners ETF and the Gold commodity ETF testing horizontal support.

 

 

*** 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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Plains All American Pipeline, LP (NYSE:PAA) Seasonal Chart

Fidelity National Information Services, Inc. (NYSE:FIS) Seasonal Chart

ShawCor Ltd. (TSE:SCL.TO) Seasonal Chart

Secure Energy Services Inc. (TSE:SES.TO) Seasonal Chart

Andersons, Inc. (NASD:ANDE) Seasonal Chart

Hudbay Minerals Inc. (NYSE:HBM) Seasonal Chart

Nutrien Ltd. (NYSE:NTR) Seasonal Chart

SSR Mining Inc. (NASD:SSRM) Seasonal Chart

iShares North American Natural Resources ETF (NYSE:IGE) Seasonal Chart

iShares U.S. Energy ETF (NYSE:IYE) Seasonal Chart

Macquarie Global Infrastructure Total Return Fund (NYSE:MGU) Seasonal Chart

Pioneer Floating Rate Trust (NYSE:PHD) Seasonal Chart

SPDR MSCI Emerging Markets Quality Mix ETF (AMEX:QEMM) Seasonal Chart

Energy Select Sector SPDR Fund (NYSE:XLE) Seasonal Chart

 

 

The Markets

Stocks dipped slightly on Monday as investors digested the gains from the past month.  The S&P 500 Index shed two-tenths of one percent, trading within the range of the previous day’s session.  Support at rising 20 and 50-day moving averages are now hovering around 3610 and 3492, respectively.  The breakout of the previous treading range between 3200 and 3500 provides a calculated upside target of 3800, now around 3% above present levels. 

Want to know which areas of the market to buy or sell?  Our Weekly Chart Books have just been updated, providing a clear Accumulate, Avoid, or Neutral rating for currencies, cryptocurrencies, commodities, broad markets, and subsectors/industries of the market.  Subscribers can login and click on the relevant links to access.

• Currencies
• Cryptocurrencies
• Commodities
• Major Benchmarks
• Sub-sectors / Industries

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Today, in our Market Outlook to subscribers, we discuss the following:

• Tax loss selling period for stocks, the sectors most vulnerable, and the sectors to pursue on the flip-side
• The rotation amongst asset classes at the end of the year
• Gold and what to look for to invest in the commodity

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Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.65.

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

TSE Composite

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