Equity Clock

Stock Market Outlook for December 9, 2021

US Dollar Index is rolling over on cue, providing a tailwind to stocks during this average Santa Claus rally period.

 

 

 

*** 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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Patterson Dental Co. (NASD:PDCO) Seasonal Chart

Denison Mines Corp. (TSE:DML.TO) Seasonal Chart

Fidelity National Information Services, Inc. (NYSE:FIS) Seasonal Chart

Microbix Biosystems, Inc. (TSE:MBX.TO) Seasonal Chart

Premium Brands Holdings Corp. (TSE:PBH.TO) Seasonal Chart

Acadian Timber Corp. (TSE:ADN.TO) Seasonal Chart

BlackBerry Ltd. (NYSE:BB) Seasonal Chart

iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (TSE:CDZ.TO) Seasonal Chart

iShares Core MSCI Emerging Markets IMI Index ETF (TSE:XEC.TO) Seasonal Chart

iShares Jantzi Social Index ETF (TSE:XEN.TO) Seasonal Chart

First Trust ISE Global Wind Energy Index Fund (NYSE:FAN) Seasonal Chart

iShares Currency Hedged MSCI Emerging Markets ETF (AMEX:HEEM) Seasonal Chart

Vanguard Emerging Markets Government Bond ETF (NASD:VWOB) Seasonal Chart

 

 

The Markets

Stocks closed mildly higher on Wednesday as fears pertaining to the spread of Omicron are set aside as more is learned about the COVID variant.  The S&P 500 index gained three-tenths of one percent, reaching back to levels around previous resistance above 4700.  Intermediate support at the rising 50-day moving average remains intact and gap support between 4615 and 4635 provides a range to shoot off of should the market retrench.  Momentum indicators have curled higher from oversold levels with MACD seemingly poised to trigger a renewed buy signal should a crossover above the signal line be realized.  Intermediate to long-term trends continue to point higher, warranting remaining constructive in seasonally favoured bets.

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

• The short-term rollover of the US Dollar Index
• US Petroleum Inventories and our view of the energy sector
• US Job Openings and Labor Turnover Survey (JOLTS) and the activity that caught our eye

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Sentiment on Wednesday, as gauged by the put-call ratio, ended bullish at 0.88.

 

 

Seasonal charts of companies reporting earnings today:

 

 

 

S&P 500 Index

 

 

TSE Composite

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