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SPY

SPDR S&P 500 ETF Trust

$215.23

-0.55 (-0.25%)

, SPX

S&P 500

$2,155.12

-5.65 (-0.26%)

14:05
10/07/16
10/07
14:05
10/07/16
14:05

On The Fly: Weekly technical notes for S&P 500

There has been no challenge to the ranges that have been noted here for many weeks. At time of writing there was a brief break in the S&P 500 (SPX) below 2150, but that dip was quickly bought. Price is now migrating slowly back toward 2160, which is the midpoint of the range between 2140 and 2180 that the index has settled into. The week saw the Financials (XLF) do better on the prospects of a rate hike being nearer on the horizon than traders had previously thought. Countering that move higher was weakness in Energy (XLE), Utilities (XLU), the Industrials (XLI), and Consumer Staples (XLP). As the market heads into a slow start of Q3 earnings season next week, it is quite possible the ranges will expand. The counterpoint at the moment keeping the indexes inline is the uncertainty surrounding the election. That may matter less depending on the weakness or strength of names reporting. Another factor to watch is the relative weakness in Gold and Gold Miners. While that has a relatively modest drag on the index itself, it may speak volumes about the health of speculation. Gold Miners in particular have been a winning trade for the bulk of this year, but that is now at some risk of turning into a losing bet. Souring in one corner of the market where funds have been most active could have a strong follow-on effect. Equally, a strong recovery could help lift speculative spirits.

SPY

SPDR S&P 500 ETF Trust

$215.23

-0.55 (-0.25%)

SPX

S&P 500

$2,155.12

-5.65 (-0.26%)

XLF

Financial Select Sector

$19.61

-0.02 (-0.10%)

XLE

Energy Select Sector SPDR

$70.92

-0.1 (-0.14%)

XLU

Utilities SPDR

$47.32

0.14 (0.30%)

XLI

Industrial Select Sector SPDR

$57.64

-0.675 (-1.16%)

XLP

Consumer Staples Sector SPDR

$52.28

-0.194 (-0.37%)

GLD

SPDR Gold Trust

$119.63

-0.035 (-0.03%)

GDX

Market Vector Gold Miners

$23.31

0.465 (2.04%)

SPY SPDR S&P 500 ETF Trust
$215.23

-0.55 (-0.25%)

08/01/16
GSCO
08/01/16
NO CHANGE
GSCO
Equities downgraded to Underweight over 3 months at Goldman
Goldman analyst led by Christian Mueller-Glissmann downgraded tactically to Underweight over 3 months, but remain Neutral over 12 months, and remains Overweight cash and would look for a reset lower in equities to add positions. The analyst said equities remain expensive and earnings growth is poor, in said equities are now just at the upper end of their 'fat and flat' range.
SPX S&P 500
$2,155.12

-5.65 (-0.26%)

05/18/16
05/18/16
NO CHANGE

Goldman downgrades Equities to Neutral
Goldman Portfolio Strategy Research analysts led by Christian Mueller-Glissmann downgraded equities to Neutral over 12 months on growth and valuation concerns. Equities do not look attractive until earnings growth can be sustained, the analyst wrote in a report. He expects a stronger dollar and the prospect of less negative equity/foreign exchange correlations and remains Overweight cash on a 3-month basis given higher cross-asset volatility.
09/06/16
MSCO
09/06/16
NO CHANGE
MSCO
S&P 500 price target raised to 2,300 from 2,200 at Morgan Stanley
Morgan Stanley analysts led by Adam Parker raised its 12 month price target on the S&P 500 to 2,300 from 2,200, bull case to 2,500 from 2,400, and bear case to 1,800 from 1,600.
XLF Financial Select Sector
$19.61

-0.02 (-0.10%)

XLE Energy Select Sector SPDR
$70.92

-0.1 (-0.14%)

XLU Utilities SPDR
$47.32

0.14 (0.30%)

XLI Industrial Select Sector SPDR
$57.64

-0.675 (-1.16%)

XLP Consumer Staples Sector SPDR
$52.28

-0.194 (-0.37%)

GLD SPDR Gold Trust
$119.63

-0.035 (-0.03%)

GDX Market Vector Gold Miners
$23.31

0.465 (2.04%)

TODAY'S FREE FLY STORIES

CHGG

Chegg

$12.44

0.48 (4.01%)

13:25
06/23/17
06/23
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13:25
Recommendations
Chegg analyst commentary  »

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13:25
06/23/17
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13:25
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13:25
General news
Energy Action: Baker-Hughes »

Energy Action:…

VRX

Valeant

$15.58

0.0801 (0.52%)

13:20
06/23/17
06/23
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06/23/17
13:20
Options
Valeant expiring options active Friday »

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  • 24

    Aug

$NSD

NASDAQ Market Internals

13:17
06/23/17
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Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

13:16
06/23/17
06/23
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Technical Analysis
NYSE market internals summary »

Volume is below average…

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CLLS

Cellectis

$23.15

0.25 (1.09%)

13:15
06/23/17
06/23
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13:15
Hot Stocks
Breaking Hot Stocks news story on Cellectis 

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  • 26

    Sep

INFY

Infosys

$14.90

0.13 (0.88%)

13:13
06/23/17
06/23
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Hot Stocks
Infosys says 'committed no wrongdoing, denies all allegations' in NY tax matter »

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CLLS

Cellectis

$23.15

0.25 (1.09%)

13:08
06/23/17
06/23
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Hot Stocks
Cellectis to resume trading at 1:15 pm ET »

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  • 26

    Sep

PTLA

Portola Pharmaceuticals

$38.25

-1.24 (-3.14%)

13:06
06/23/17
06/23
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06/23/17
13:06
Hot Stocks
Portola Pharmaceuticals announces FDA approval of Bevyxxa »

Portola Pharmaceuticals…

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  • 23

    Jun

  • 24

    Jun

TRIP

TripAdvisor

$35.74

-0.08 (-0.22%)

13:05
06/23/17
06/23
13:05
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13:05
Options
TripAdvisor call volume above normal and directionally bullish »

Bullish option flow…

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13:05
06/23/17
06/23
13:05
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13:05
General news
Cleveland Fed hawk Mester didn't discuss policy »

Cleveland Fed hawk Mester…

BHI

Baker Hughes

$54.55

0.025 (0.05%)

13:03
06/23/17
06/23
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13:03
Hot Stocks
Baker Hughes reports U.S. rig count up 8 to 941 rigs »

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13:00
06/23/17
06/23
13:00
06/23/17
13:00
General news
Treasury Action: upcoming supply should put a floor under short rates »

Treasury Action: upcoming…

RIO

Rio Tinto

$39.32

0.61 (1.58%)

, GLNCY

Glencore

$7.10

0.05 (0.71%)

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Hot Stocks
Rio Tinto to give new Glencore C&A proposal 'appropriate consideration' »

Rio Tinto (RIO)…

RIO

Rio Tinto

$39.32

0.61 (1.58%)

GLNCY

Glencore

$7.10

0.05 (0.71%)

03/08/13
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CLLS

Cellectis

$23.15

0.25 (1.09%)

12:56
06/23/17
06/23
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12:56
Hot Stocks
Cellectis announces Calyxt filing of registration statement for proposed IPO »

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  • 26

    Sep

PX

Praxair

$133.62

1.15 (0.87%)

12:50
06/23/17
06/23
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12:50
Options
Call spread in Praxair may add to existing bullish position »

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SYT

Syngenta

$92.65

0.05 (0.05%)

12:45
06/23/17
06/23
12:45
06/23/17
12:45
Periodicals
Syngenta ordered to pay $217.7M to Kansas farmers in GMO corn case, Reuters says »

A federal jury in Kansas…

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MT

ArcelorMittal

$21.21

0.315 (1.51%)

12:45
06/23/17
06/23
12:45
06/23/17
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Options
ArcelorMittal call volume above normal and directionally bullish »

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12:45
06/23/17
06/23
12:45
06/23/17
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General news
Breaking General news story  »

Week of 6/23 Baker-Hughes…

EFA

iShares MSCI EAFE Index Fund

$65.14

0.16 (0.25%)

, VEA

Vanguard Europe Pacific ETF

$41.22

0.089 (0.22%)

12:42
06/23/17
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12:42
Technical Analysis
On The Fly: ETF fund flow highlights »

For the past week there…

EFA

iShares MSCI EAFE Index Fund

$65.14

0.16 (0.25%)

VEA

Vanguard Europe Pacific ETF

$41.22

0.089 (0.22%)

IEFA

iShares Core MSCI EAFE ETF

$60.83

0.135 (0.22%)

EWJ

iShares MSCI Japan Index Fund

$54.04

-0.05 (-0.09%)

EZU

iShares MSCI Eurozone ETF

$40.44

0.1 (0.25%)

IBB

iShares Nasdaq Biotechnology Index

$320.11

4.01 (1.27%)

IVV

iShares Core S&P 500

$246.13

0.53 (0.22%)

SPY

SPDR S&P 500 ETF Trust

$243.37

0.53 (0.22%)

VO

Vanguard Mid-Cap Index Fund

$143.23

0.561 (0.39%)

VTI

Vanguard Total Stock Market ETF

$125.10

0.36 (0.29%)

VUG

Vanguard Growth Index Fund

$128.93

0.421 (0.33%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$88.11

0.265 (0.30%)

03/08/13
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PTLA

Portola Pharmaceuticals

$38.25

-1.24 (-3.14%)

12:33
06/23/17
06/23
12:33
06/23/17
12:33
Hot Stocks
Portola FDA label cites secondary endpoint instead of Cohort 1 data, tweet says »

Twitter user…

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  • 23

    Jun

  • 24

    Jun

VIX

Volatility Index S&P 500 Options

12:30
06/23/17
06/23
12:30
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12:30
Options
VIX calls outpace puts nearly 5:1 as the index dips below 10 »

VIX calls outpace puts…

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CZR

Caesars

$12.55

0.2 (1.62%)

, CACQ

Caesars Acquisition

$19.40

0.15 (0.78%)

12:29
06/23/17
06/23
12:29
06/23/17
12:29
Hot Stocks
Caesars announces effectiveness of S-4 registration statement related to merger »

Caesars Entertainment…

CZR

Caesars

$12.55

0.2 (1.62%)

CACQ

Caesars Acquisition

$19.40

0.15 (0.78%)

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GLYC

GlycoMimetics

$12.10

-0.03 (-0.25%)

12:28
06/23/17
06/23
12:28
06/23/17
12:28
Conference/Events
GlycoMimetics management to meet with Jefferies »

Meeting to be held in…

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  • 26

    Jun

GOOG

Alphabet

$957.09

-2.36 (-0.25%)

, GOOGL

Alphabet Class A

$976.62

-1.97 (-0.20%)

12:28
06/23/17
06/23
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06/23/17
12:28
Hot Stocks
Google to bring Posts service to local businesses »

Alphabet's Google…

GOOG

Alphabet

$957.09

-2.36 (-0.25%)

GOOGL

Alphabet Class A

$976.62

-1.97 (-0.20%)

03/08/13
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  • 26

    Jun

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  • 28

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    Jul

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