Stock Market Outlook for December 4, 2024
Years ending in “5” are typically positive for stocks, but, with comparisons being made to the equity market performance in 1995, is the macroeconomic momentum sufficient to fuel upbeat expectations?
*** 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:
Subscribers Click on the relevant link to view the full profile. Not a subscriber? Signup here.
PayPal Holdings, Inc. (NASD:PYPL) Seasonal Chart
Tactile Systems Technology Inc. (NASD:TCMD) Seasonal Chart
Lesaka Technologies, Inc. (NASD:LSAK) Seasonal Chart
Cibus, Inc. (NASD:CBUS) Seasonal Chart
Eventbrite, Inc. (NYSE:EB) Seasonal Chart
Invesco S&P SmallCap Utilities ETF (NASD:PSCU) Seasonal Chart
BMO Low Volatility International Equity ETF (TSE:ZLI.TO) Seasonal Chart
Western Forest Products Inc. (TSE:WEF.TO) Seasonal Chart
Intrepid Potash, Inc. (NYSE:IPI) Seasonal Chart
Hurco Cos., Inc. (NASD:HURC) Seasonal Chart
Finning Intl, Inc. (TSE:FTT.TO) Seasonal Chart
SolarEdge Technologies, Inc. (NASD:SEDG) Seasonal Chart
Envela Corporation (AMEX:ELA) Seasonal Chart
The Markets
Stocks continue to edge higher heading through the start of December as investors pushed back into growth stocks following the recent lag in Technology sector performance. The S&P 500 Index gained a mere five basis points (0.05%), charting a fresh record closing high and continuing to hold above support at the 20-day moving average (5962). Evidence of waning short-term upside momentum has become apparent as price pressures rising trendline support stemming from November 19th double-bottom support at 5850. a trend of higher-highs and higher-lows remains. On a intermediate-term scale, there remains greater evidence of support than resistance, presenting the desired backdrop for strength that is normally realized in the market at year-end. Major moving averages are all pointed higher and momentum indicators continue to gyrate above their middle lines, providing characteristics of a bullish trend. Our list of candidates in the market to Accumulate and to Avoid remains well positioned to benefit from the strength that is filtering into the market at this seasonally strong time of year, but we will scrutinize whether any changes are required as the price action evolves.
Today, in our Market Outlook to subscribers, we discuss the following:
- Tendency for stocks during years ending in “5”
- Comparing the current macro-fundamental backdrop to that of the period period to 1995
- Job Openings and Labor Turnover Survey (JOLTS) and the investment implications within
- The downfall of South Korean stocks
Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for December 4
Not signed up yet? Subscribe now to receive full access to all of the research and analysis that we publish.
Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.75.
Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
| Sponsored By... |
|
