Technical Notes
Home Depot $HD a Dow Jones Industrial Average stock moved above $421.56 to an all-time high extending an intermediate uptrend. According to EquityClock, seasonal influences are favourable until early January.
Procter & Gamble $PG a Dow Jones Industrial Average stock moved above $176.90 to an all-time high extending an intermediate uptrend.
Citigroup $C an S&P 100 stock moved above $70.10 to a 15 year high extending an intermediate uptrend.
Forest Product stocks and related ETFs (e.g. WOOD and CUT) were notably stronger yesterday. Canfor is an example with a break above $18.13 Cdn. Seasonal influences for lumber and lumber stocks recently turned positive. This year, demand for lumber is expected to be higher than average due to reconstruction caused by the two hurricanes in September/October that moved through Florida and eastern U.S. Home Depot also moved higher for the same reason.
Seasonality chart/analysis courtesy of www.EquityClock.com
Seasonal Chart Analysis
Analysis of the iShares Global Timber & Forestry ETF (NASD:WOOD) seasonal charts above shows that a Buy Date of October 30 and a Sell Date of January 30 has resulted in a geometric average return of 1.77% above the benchmark rate of the S&P 500 Total Return Index over the past 15 years. This seasonal timeframe has shown positive results compared to the benchmark in 11 of those periods. This is a good rate of success and the return strongly outperforms the relative buy-and-hold performance of the stock over the past 15 years by an average of 5.92% per year.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for November 25th 2024
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for November 25th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 25th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Ives: This tech market will be on fire as the AI revolution hits its next phase.
Ives: This tech market will be on fire as the AI revolution hits its next phase. – YouTube
Markets are well setup for a rally through year-end, says Hightower’s Stephanie Link
Markets are well setup for a rally through year-end, says Hightower’s Stephanie Link – YouTube
Gold, Crude Oil & U.S. Dollar: Analyzing Impact on Equities: Schwab Network
Gold, Crude Oil & U.S. Dollar: Analyzing Impact on Equities – YouTube
Belief Over Fear: Markets Defy Gravity Amid Uncertainty: Guy Adami, Dan Nathan, Liz Young
https://www.youtube.com/watch?v=dz-OiUN1oR4
S&P 500 Momentum Barometers
The intermediate term Barometer advanced another 6.00 to 69.20. It remains Overbought. Daily trend is up.
The long term Barometer added another 4.60 to 76.80. It remains Overbought. Daily trend is up.
TSX Momentum Barometers
The intermediate term Barometer dropped 4.57 to 59.36. It changed from Overbought to Neutral on a drop below 60.00.
The long term Barometer was unchanged at 75.34. It remains Overbought.
Disclaimer: Seasonality ratings and technical ratings offered in this report and at
www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed
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Equity Clock Publications