Stock Market Outlook for December 17, 2021
Relative performance of the Technology sector is rolling over as the ETF that tracks the market segment is denied again around levels of trend-channel resistance.
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*** 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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Ballard Power Systems, Inc. (TSE:BLDP.TO) Seasonal Chart
Treasury Metals Inc. (TSE:TML.TO) Seasonal Chart
SPDR MSCI ACWI Low Carbon Target ETF (AMEX:LOWC) Seasonal Chart
Advanced Semiconductor (NYSE:ASX) Seasonal Chart
VanEck Vectors Egypt Index ETF (NYSE:EGPT) Seasonal Chart
iShares MSCI Sweden ETF (NYSE:EWD) Seasonal Chart
iShares MSCI South Korea Capped ETF (NYSE:EWY) Seasonal Chart
ProShares UltraShort 20+ Year Treasury (NYSE:TBT) Seasonal Chart
Lundin Mining Corp. (TSE:LUN.TO) Seasonal Chart
Paramount Resources Ltd. (TSE:POU.TO) Seasonal Chart
Magellan Aerospace Corp. (TSE:MAL.TO) Seasonal Chart
Imperial Oil Ltd. (AMEX:IMO) Seasonal Chart
United States 12 Month Oil Fund, LP (NYSE:USL) Seasonal Chart
TransAlta Renewables Inc. (TSE:RNW.TO) Seasonal Chart
iShares U.S. Oil Equipment & Services ETF (NYSE:IEZ) Seasonal Chart
VanEck Vectors Oil Services ETF (NYSE:OIH) Seasonal Chart
SPDR Dow Jones International Real Estate ETF (NYSE:RWX) Seasonal Chart
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The Markets
Stocks peeled back from their Fed induced bump recorded on Wednesday as end-of-quarter/end-of-year portfolio rebalancing continues. The S&P 500 Index shed almost nine-tenths of one percent, rejected again from resistance just above 4700. Short-term support at the 20-day moving average was tested at the lows of the session. Gap support that was charted on December 7th between 4615 and 4635 remains a significant hurdle and a break below this short-term range would threaten the intermediate-term trend of the benchmark, warranting further caution in equity allocations.
Today, in our Market Outlook to subscribers, we discuss the following:
- Deteriorating strength in the technology sector
- US Industrial Production and the segments of the market to target to take advantage of the fundamental trends
- Manufacturer sentiment
- US Housing Starts and how we are exposed to the trends in the housing market
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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.87.
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Seasonal charts of companies reporting earnings today:
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S&P 500 Index
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TSE Composite
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