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Stock Market Outlook for December 10, 2021


Today, we present our forecast for the broad equity market for the year ahead.

 

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:

Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here.

iShares S&P/TSX Capped REIT Index ETF (TSE:XRE.TO) Seasonal Chart

iShares S&P/TSX Capped REIT Index ETF (TSE:XRE.TO) Seasonal Chart

CanWel Holdings Corp. (TSE:CWX.TO) Seasonal Chart

CanWel Holdings Corp. (TSE:CWX.TO) Seasonal Chart

Diversified Royalty Corp. (TSE:DIV.TO) Seasonal Chart

Diversified Royalty Corp. (TSE:DIV.TO) Seasonal Chart

Endeavour Mining Corp. (TSE:EDV.TO) Seasonal Chart

Endeavour Mining Corp. (TSE:EDV.TO) Seasonal Chart

goeasy Ltd. (TSE:GSY.TO) Seasonal Chart

goeasy Ltd. (TSE:GSY.TO) Seasonal Chart

Lundin Gold Inc. (TSE:LUG.TO) Seasonal Chart

Lundin Gold Inc. (TSE:LUG.TO) Seasonal Chart

Platinum Group Metals Ltd. (TSE:PTM.TO) Seasonal Chart

Platinum Group Metals Ltd. (TSE:PTM.TO) Seasonal Chart

New Flyer Industries Inc. (TSE:NFI.TO) Seasonal Chart

New Flyer Industries Inc. (TSE:NFI.TO) Seasonal Chart

VanEck Vectors Africa Index ETF (NYSE:AFK) Seasonal Chart

VanEck Vectors Africa Index ETF (NYSE:AFK) Seasonal Chart

VanEck Vectors Gaming ETF (NYSE:BJK) Seasonal Chart

VanEck Vectors Gaming ETF (NYSE:BJK) Seasonal Chart

First Trust NASDAQ Smartphone Index Fund (NASD:NXTG) Seasonal Chart

First Trust NASDAQ Smartphone Index Fund (NASD:NXTG) Seasonal Chart

Chemtrade Logistics Income Fund (TSE:CHE/UN.TO) Seasonal Chart

Chemtrade Logistics Income Fund (TSE:CHE/UN.TO) Seasonal Chart

Toronto-Dominion Bank (TSE:TD.TO) Seasonal Chart

Toronto-Dominion Bank (TSE:TD.TO) Seasonal Chart

Maple Leaf Foods, Inc. (TSE:MFI.TO) Seasonal Chart

Maple Leaf Foods, Inc. (TSE:MFI.TO) Seasonal Chart

Bonterra Energy Corp. (TSE:BNE.TO) Seasonal Chart

Bonterra Energy Corp. (TSE:BNE.TO) Seasonal Chart

Granite Real Estate Investment Trust (TSE:GRT/UN.TO) Seasonal Chart

Granite Real Estate Investment Trust (TSE:GRT/UN.TO) Seasonal Chart

Brookfield Asset Management, Inc. (TSE:BAM/A.TO) Seasonal Chart

Brookfield Asset Management, Inc. (TSE:BAM/A.TO) Seasonal Chart

iShares Core S&P/TSX Capped Composite Index ETF (TSE:XIC.TO) Seasonal Chart

iShares Core S&P/TSX Capped Composite Index ETF (TSE:XIC.TO) Seasonal Chart

iShares MSCI Emerging Markets Small-Cap ETF (AMEX:EEMS) Seasonal Chart

iShares MSCI Emerging Markets Small-Cap ETF (AMEX:EEMS) Seasonal Chart

iShares MSCI Australia ETF (NYSE:EWA) Seasonal Chart

iShares MSCI Australia ETF (NYSE:EWA) Seasonal Chart

 

 

The Markets

Stocks dipped on Thursday as investors digested the strong gains recorded in recent sessions.  The S&P 500 Index slipped by just over seven-tenths of one percent as the benchmark bumped its head on previous resistance around the all-time highs above 4700.  Weakness in the technology and consumer discretionary sectors was the dominant influence as portfolio managers rebalance away from their former winners and dedicate funds to their laggards, or those areas of the market to which they are underweight.  The benchmark continues to hold levels above short-term support at the 20-day moving average, as well as rising intermediate support at the 50-day moving average.  This continues to be a market that warrants being constructive in favoured seasonal bets, at least into the start of the new year.

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

  • Breakdown of the relative trend of the Consumer Discretionary sector
  • Weekly Jobless Claims and the health of the labor market
  • Tracking the spread of COVID against the seasonal average trend for respiratory illnesses
  • Our forecast for the broad equity market in 2022

Subscribe now and we’ll send this outlook to you.

Sentiment on Thursday, as gauged by the put-call ratio, ended slightly bullish at 0.91.

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Seasonal charts of companies reporting earnings today:

Johnson Outdoors Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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