Short-term rising wedge pattern on the chart of the S&P 500 Index threatens a retracement of the recent gains. 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: No stocks identified for today The Markets Stocks closed mixed on Thursday as the reaction to earnings and the FOMC statement continues. The S&P 500 shed a mere four basis points, remaining above a short-term rising trendline that appears on the hourly chart of the large-cap index. Connecting the peaks of the short-term trend on the same chart reveals a rising wedge pattern, typically a bearish setup that results in a retracement of the positive move upon a break below the lower limit of the pattern. Theory suggests that the retracement could reach as far back to where the pattern started, which is the September low, but what theory suggests and what actually happens are, of course, two different outcomes. Watch the rising level of support, currently hovering around 2075. Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.86. Seasonal charts of companies reporting earnings today: For the rest of the charts of companies reporting earnings today, click here. S&P 500 Index TSE Composite