S&P 500 Equally Weighted Index trading within the tightest 10-day range in the history of the benchmark. Real Time Economic Calendar provided by Investing.com. **NEW** As part of the ongoing process to offer new and up-to-date information regarding seasonal and technical investing, we are adding a section to the daily reports that details the stocks that are entering their period of seasonal strength, based on average historical start dates. 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: Crane Co. (NYSE:CR) Seasonal Chart ARC Resources Ltd (TSE:ARX) Seasonal Chart The Markets Stocks drifted mildly lower on Monday as investors continue to take a “wait-and-see” approach with the new president, Donald Trump. The S&P 500 Index shed just over a quarter of a percent, remaining bound between support at its 20-day moving average and horizontal resistance at 2275. Energy and financials led the declines on the session. Equity investors are clearly waiting for a catalyst to determine the next move in the broad market. Looking at the S&P 500 Equally Weighted Index, the benchmark has traded in the tightest 10-day range since the inception of the benchmark back in 2003. The difference between the lowest-low and the highest-high in the past 10 sessions is only 1.18%, well below the average range for this span over the past 14 years of 5.27%. The equally weighted index has underperformed the large-cap benchmark since stocks stalled in the middle of December, typically a sign of waning breadth as fewer stocks support the upward momentum. Seasonally, the equal benchmark tends to outperform the capitalization weighted benchmark between now and May. On the economic front, last week Cass Information Systems released their latest read of shipping activity for the month of December, providing a good gauge of economic activity coming into the new year. The shipments index declined by 1.2% in December, significantly better than the average decline for the month of 4.5%. For the year, shipments were higher by 3.5%, firmly above the average calendar year increase of 0.6%, based on data going back to 1999. While volumes continue to show signs of improving as economic activity picks up from the manufacturing recession over the past couple of years, expenditures still remain subdued as demand has yet to lead to pricing pressures. The expenditures index was lower by 1.1% in December and 3.0% on the year, remaining firmly below the average trend. Recent strength in regional manufacturing surveys suggests that shipping volume through the months ahead should remain strong, which eventually will have an influence on prices, thereby leading to an improvement in the expenditures index. Investors have bet on an improvement in the profitability of transportation companies under a Trump presidency; the Dow Jones Transportation Average is presently battling with resistance at the 2014 high around 9300, up significantly since election day. Seasonally, the next period of strength for the transportation benchmark runs from the beginning of February through to the beginning of May. Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.95. Seasonal charts of companies reporting earnings today: S&P 500 Index TSE Composite