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Stock Market Outlook for November 27, 2018

Number of new lows and highs in the market indicative of a short-term low for stocks.

 

Real Time Economic Calendar provided by Investing.com.

 

*** 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:

Ryman Hospitality Properties, Inc. (NYSE:RHP) Seasonal Chart

Ryman Hospitality Properties, Inc. (NYSE:RHP) Seasonal Chart

Theratechnologies (TSE:TH) Seasonal Chart

Theratechnologies (TSE:TH) Seasonal Chart

Trinidad Drilling (TSE:TDG) Seasonal Chart

Trinidad Drilling (TSE:TDG) Seasonal Chart

Alamos Gold (TSE:AGI) Seasonal Chart

Alamos Gold (TSE:AGI) Seasonal Chart

Aberdeen International (TSE:AAB) Seasonal Chart

Aberdeen International (TSE:AAB) Seasonal Chart

Paramount Gold and Silver Corp. (AMEX:PZG) Seasonal Chart

Paramount Gold and Silver Corp. (AMEX:PZG) Seasonal Chart

Trican Well Service Ltd.  (TSE:TCW) Seasonal Chart

Trican Well Service Ltd. (TSE:TCW) Seasonal Chart

 

 

The Markets

Stocks rallied on Monday as investors position portfolios ahead of the end of the month, as well as the G20 meeting that starts on Friday.  The S&P 500 Index gained 1.55%, attempting to move back into gap resistance around 2685 that was opened in the past couple of weeks.  Support is apparent around 2630.  It seems likely that a catalyst will be required to break the market out of this tight short-term range, whether it be higher or lower.  Fortunately for the market, the number of catalysts in the days ahead are many with Jerome Powell scheduled to speak on Wednesday and the trade meeting between Donald Trump and Xi Jinping happening this weekend.  Momentum indicators on the chart of the S&P 500 index are attempting to curl higher, possibly showing a positive divergence, which would be indicative of waning selling pressures.

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The potential for a tradable low around present levels is fairly good when looking at the level of stocks on the NYSE that are trading at new 52-week lows.  When the level of 52-week lows spikes above 500, as it was last week, a short-term low has typically followed.  The magnitude of the rebound has varied over history and the indicator is by no means a long-term signal, but it its suggestive of a short-term oversold level.  The number of new 52-week highs on the NYSE, meanwhile, reached a low of 4 on Friday, the lowest level since January 2016, which was close to the lows of the most recent intermediate up-leg for equity markets.

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We are in the process of preparing the Monthly Outlook for December.  If you have not subscribed to our service yet, now is your chance to do so in order to receive this insightful report on areas to look out for in the month ahead and how to approach this market from a seasonal, technical, and fundamental perspective.  Subscribe now at the following link: https://charts.equityclock.com/subscribe

Sentiment on Monday, as gauged by the put-call ratio, ended close to neutral at 0.96.

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Sectors and Industries entering their period of seasonal strength:

Cocoa Futures (CC) Seasonal Chart
FUTURE_CC1 Relative to the S&P 500FUTURE_CC1 Relative to Gold

FUTURE_CC1 Monthly Averages

 

 

Seasonal charts of companies reporting earnings today:

Bank of Nova Scotia (The) (BNS) Seasonal Chart BrightView Holdings, Inc. (BV) Seasonal Chart Central Garden & Pet Company (CENT) Seasonal Chart Central Garden & Pet Company (CENTA) Seasonal Chart Cracker Barrel Old Country Store, Inc. (CBRL) Seasonal Chart Eaton Vance Corporation (EV) Seasonal Chart  GW Pharmaceuticals Plc (GWPH) Seasonal Chart Hibbett Sports, Inc. (HIBB) Seasonal Chart KNOT Offshore Partners LP (KNOP) Seasonal Chart    Salesforce.com Inc (CRM) Seasonal Chart voxeljet AG (VJET) Seasonal Chart 

 

 

S&P 500 Index

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TSE Composite

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