Stock Market Outlook for December 13, 2024
Initial claims surged last week to the highest level for the start of December since 2020, amidst the pandemic.
*** 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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Frontera Energy Corporation (TSE:FEC.TO) Seasonal Chart
Entergy New Orleans, Inc. (NYSE:ENO) Seasonal Chart
Inotiv, Inc. (NASD:NOTV) Seasonal Chart
Reinsurance Group of America, Inc. (NYSE:RZB) Seasonal Chart
Madison Square Garden Co. (NYSE:MSGS) Seasonal Chart
Tree Island Steel Ltd. (TSE:TSL.TO) Seasonal Chart
Invesco S&P MidCap Momentum ETF (AMEX:XMMO) Seasonal Chart
International Petroleum Corp. (TSE:IPCO.TO) Seasonal Chart
Vanguard U.S. Momentum Factor ETF (AMEX:VFMO) Seasonal Chart
CAE, Inc. (NYSE:CAE) Seasonal Chart
ReneSola Ltd. (NYSE:SOL) Seasonal Chart
Cipher Pharmaceuticals Inc. (TSE:CPH.TO) Seasonal Chart
Verint Systems, Inc. (NASD:VRNT) Seasonal Chart
Healthcare Services Group, Inc. (NASD:HCSG) Seasonal Chart
Teleflex, Inc. (NYSE:TFX) Seasonal Chart
Huntington Ingalls Industries Inc. (NYSE:HII) Seasonal Chart
Canaccord Financial Inc. (TSE:CF.TO) Seasonal Chart
CES Energy Solutions Corp. (TSE:CEU.TO) Seasonal Chart
H&Q Healthcare Inv Fund (NYSE:HQH) Seasonal Chart
Eastman Chemical Co. (NYSE:EMN) Seasonal Chart
Vanguard FTSE Canadian Capped REIT Index ETF (TSE:VRE.TO) Seasonal Chart
Schlumberger Ltd. (NYSE:SLB) Seasonal Chart
Unum Group (NYSE:UNM) Seasonal Chart
LyondellBasell Industries NV (NYSE:LYB) Seasonal Chart
Extendicare Inc. (TSE:EXE.TO) Seasonal Chart
Transocean, Inc. (NYSE:RIG) Seasonal Chart
U.S. Energy Corp. (NASD:USEG) Seasonal Chart
Platinum Group Metals Ltd. (AMEX:PLG) Seasonal Chart
Enphase Energy Inc. (NASD:ENPH) Seasonal Chart
iShares Core S&P Small-Cap ETF (NYSE:IJR) Seasonal Chart
iShares Russell Mid-Cap ETF (NYSE:IWR) Seasonal Chart
Invesco S&P SmallCap Energy ETF (NASD:PSCE) Seasonal Chart
Invesco Dynamic Oil & Gas Services ETF (NYSE:PXJ) Seasonal Chart
SPDR S&P 600 Small Cap Value ETF (NYSE:SLYV) Seasonal Chart
Vanguard Mid-Cap ETF (NYSE:VO) Seasonal Chart
SPDR S&P Retail ETF (NYSE:XRT) Seasonal Chart
The Markets
Stocks wobbled on Thursday as portfolio managers returned to their end-of-year portfolio transactions before the distractions surrounding the holidays begin. The S&P 500 Index shed just over half of one percent, peeling back from the recent high charted around 6100. Support at the 20-day moving average (6003) continues to underpin this market, keeping the market positioned to buy upon each test. The short-term upside gap that was opened on Wednesday between 6045 and 6060 is currently being tested as a point of support. On a intermediate-term basis, 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:
- US Producer Price Index (PPI) and the investment implications within
- Weekly jobless claims and the health of the labor market
- Post-Election Year tendencies for the price of Oil
Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for December 13
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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.82.
Seasonal charts of companies reporting earnings today:
- No significant earnings scheduled for today.
S&P 500 Index
TSE Composite
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