Stock Market Outlook for December 13, 2021
Inflation is soaring out of control and this is likely to matter to the market as soon as the start of the new year. We break it down in today’s report.
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*** 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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Kimberly Clark Corp. (NYSE:KMB) Seasonal Chart
Mullen Group Ltd. (TSE:MTL.TO) Seasonal Chart
Teleflex, Inc. (NYSE:TFX) Seasonal Chart
Vanguard FTSE Canadian Capped REIT Index ETF (TSE:VRE.TO) Seasonal Chart
iShares Core MSCI Emerging Markets ETF (AMEX:IEMG) Seasonal Chart
Invesco DWA Developed Markets Momentum ETF (NASD:PIZ) Seasonal Chart
Vanguard Global ex-U.S. Real Estate ETF (NASD:VNQI) Seasonal Chart
Darden Restaurants, Inc. (NYSE:DRI) Seasonal Chart
Vermilion Energy Inc. (TSE:VET.TO) Seasonal Chart
HollyFrontier Corp. (NYSE:HFC) Seasonal Chart
iShares MSCI Taiwan ETF (NYSE:EWT) Seasonal Chart
Invesco Global Clean Energy ETF (NYSE:PBD) Seasonal Chart
Invesco S&P 500 Equal Weight ETF (NYSE:RSP) Seasonal Chart
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The Markets
Stocks closed higher to end the week as investors digested the latest read of consumer prices in the economy. The S&P 500 Index gained just less than one percent, pushing above short-term support at its 20-day moving average. Intermediate support continues to be pegged at the rising 50-day moving average at 4573. MACD has crossed above its signal line, triggering a renewed buy signal as momentum indicators rebound from the oversold levels achieved during the Omicron selloff. Intermediate to long-term trends are sloped higher, conducive to remaining constructive in favoured seasonal bets.
Today, in our Market Outlook to subscribers, we discuss the following:
- Weekly look at the large-cap benchmark
- The jump in the consumer staples and technology sectors on Friday
- Fragmented performance in the technology sector
- US Consumer Price Index (CPI) and what is driving the headline print
- The average performance of the equity market heading into the first rate hike
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Sentiment on Friday, as gauged by the put-call ratio, ended bearish at 1.08.
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Seasonal charts of companies reporting earnings today:
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S&P 500 Index
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TSE Composite
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