Equity Clock

Stock Market Outlook for December 15, 2020

The typical churn ahead of the Santa Claus rally period continues.

 

 

*** 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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Granite Real Estate Investment Trust (TSE:GRT/UN.TO) Seasonal Chart

Paramount Resources Ltd. (TSE:POU.TO) Seasonal Chart

Torex Gold Resources Inc. (TSE:TXG.TO) Seasonal Chart

Timken Co. (NYSE:TKR) Seasonal Chart

Abraxas Petroleum Corp. (NASD:AXAS) Seasonal Chart

AllianceBernstein Holding LP (NYSE:AB) Seasonal Chart

Toronto Dominion Bank (NYSE:TD) Seasonal Chart

Diamondback Energy, Inc. (NASD:FANG) Seasonal Chart

Invesco S&P Spin-Off ETF (NYSE:CSD) Seasonal Chart

WisdomTree International MidCap Dividend Fund (NYSE:DIM) Seasonal Chart

iShares MSCI Norway Capped ETF (AMEX:ENOR) Seasonal Chart

iShares MSCI South Africa ETF (NYSE:EZA) Seasonal Chart

First Trust Enhanced Equity Income Fund (NYSE:FFA) Seasonal Chart

First Trust S&P International Dividend Aristocrats ETF (NASD:FID) Seasonal Chart

Blackrock Floating Rate Income Strategies Fund Inc. (NYSE:FRA) Seasonal Chart

ALPS International Sector Dividend Dogs ETF (AMEX:IDOG) Seasonal Chart

iShares Core MSCI Pacific ETF (AMEX:IPAC) Seasonal Chart

iShares MSCI International Developed Quality Factor ETF (AMEX:IQLT) Seasonal Chart

iShares Core MSCI Total International Stock ETF (NASD:IXUS) Seasonal Chart

iShares Morningstar Small-Cap ETF (NYSE:JKJ) Seasonal Chart

SPDR S&P 400 Mid Cap Growth ETF (NYSE:MDYG) Seasonal Chart

iShares Global Materials ETF (NYSE:MXI) Seasonal Chart

Invesco Dynamic Oil & Gas Services ETF (NYSE:PXJ) Seasonal Chart

iShares MSCI Global Gold Miners ETF (NASD:RING) Seasonal Chart

Sprott Junior Gold Miners ETF (AMEX:SGDJ) Seasonal Chart

ProShares Ultra FTSE Europe (NYSE:UPV) Seasonal Chart

ProShares Ultra Basic Materials (NYSE:UYM) Seasonal Chart

Vanguard Mid-Cap Growth ETF (NYSE:VOT) Seasonal Chart

SPDR S&P Global Dividend ETF (AMEX:WDIV) Seasonal Chart

 

 

The Markets

Stocks closed mixed on Monday as portfolio managers continued to conduct end of year transactions in order to rebalance portfolios and take advantage of tax-loss selling.  The S&P 500 Index closed down by just less than half of one percent on the day, ending close to its rising 20-day moving average.  MACD remains on a sell signal following last week’s bearish crossover, indicating the near-term loss of momentum.  Downside risks remain to the rising 50-day moving average, now at 3524, which approximately marks the upper limit to the previous 300-point trading range between 3200 and 3500.  The breakout from the prior span calculates an upside target of 3800, or 3.7% above present levels.

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

• The setup on the hourly chart of the S&P 500 Index
• Another look at the Santa Claus Rally period for stocks and which areas of the market to look to benefit the most from this end of year tendency
• Key economic reports that are on tap over the next couple of days

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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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Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.81.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

TSE Composite

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