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SPY

SPDR S&P 500 ETF Trust

$213.32

0.31 (0.15%)

, SPX

S&P 500

$2,135.60

3.05 (0.14%)

14:27
10/14/16
10/14
14:27
10/14/16
14:27

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

For a moment this week it appeared likely that the range that persisted through the summer was about to change. The S&P 500 (SPX) did break below not only 2140 but also 2130, though that dip was immediately bought without the bears intervening to push more aggressively lower. This mean-reverting behavior is not conducive to breakouts or breakdowns as we have seen now nearly countless times over several months. At time of writing the index is back near 2140. A move to that level or slightly higher would see the bulls potentially back in charge next week, with a large proviso. We have not even begun yet to see earnings flows. We may well be in a very different technical situation as Q3 earning season heats up in the next several weeks. The ranges for now remain as they were, with another subtle shift. At or above 2140, the range is 2140 to 2180. Below 2140, it becomes 2130 to 2100. We may have something of a DMZ between 2140 to 2130 itself where we may see more price pivots and uncertainty. A break below 2100, which had been long-run resistance this year, would be the decisive factor for the trend to turn bearish. Similarly the bulls would need to commit to 2200 and higher as an objective on the upside to turn the trend to bullish from neutral.

SPY

SPDR S&P 500 ETF Trust

$213.32

0.31 (0.15%)

SPX

S&P 500

$2,135.60

3.05 (0.14%)

SPY SPDR S&P 500 ETF Trust
$213.32

0.31 (0.15%)

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
$2,135.60

3.05 (0.14%)

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.

TODAY'S FREE FLY STORIES

EHTH

eHealth

$11.74

0.23 (2.00%)

16:31
04/27/17
04/27
16:31
04/27/17
16:31
Earnings
Breaking Earnings news story on eHealth »

eHealth sees FY17 EPS…

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    Jun

BIDU

Baidu

$187.86

1.19 (0.64%)

16:31
04/27/17
04/27
16:31
04/27/17
16:31
Earnings
Baidu sees Q2 revenue $2.974B-$3.048B, consensus $3.03B »

Representing an annual…

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  • 27

    Apr

LRN

K12

$20.26

-0.17 (-0.83%)

16:31
04/27/17
04/27
16:31
04/27/17
16:31
Earnings
K12 reports Q3 EPS 23c, consensus 25c »

Reports Q3 revenue…

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  • 27

    Apr

16:31
04/27/17
04/27
16:31
04/27/17
16:31
Options
Preliminary option volume of 15.6M today »

Preliminary option volume…

EHTH

eHealth

$11.74

0.23 (2.00%)

16:31
04/27/17
04/27
16:31
04/27/17
16:31
Earnings
eHealth sees FY17 revenue $165M-$175M, consensus $169.3M »

Sees FY17 adjusted EBITDA…

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    Apr

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  • 06

    Jun

TRMB

Trimble

$32.62

0.28 (0.87%)

16:30
04/27/17
04/27
16:30
04/27/17
16:30
Earnings
Trimble sees Q2 non-GAAP EPS 33c-38c, consensus 34c »

Sees Q2 revenue…

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  • 27

    Apr

VSAR

Versartis

$19.80

-0.1 (-0.50%)

16:30
04/27/17
04/27
16:30
04/27/17
16:30
Earnings
Breaking Earnings news story on Versartis »

Versartis reports Q1 EPS…

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BIDU

Baidu

$187.86

1.19 (0.64%)

16:30
04/27/17
04/27
16:30
04/27/17
16:30
Earnings
Baidu reports Q1 adjusted EPS $1.00, consensus 86c »

Reports Q1 revenue…

03/08/13
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  • 27

    Apr

TRMB

Trimble

$32.62

0.28 (0.87%)

16:30
04/27/17
04/27
16:30
04/27/17
16:30
Earnings
Trimble reports Q1 non-GAAP EPS 33c, consensus 30c »

Reports Q1 revenue…

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03/06/13
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  • 27

    Apr

PFG

Principal Financial

$65.18

0.87 (1.35%)

16:30
04/27/17
04/27
16:30
04/27/17
16:30
Earnings
Principal Financial reports Q1 ops EPS $1.27, consensus $1.21 »

Reports Q1 assets under…

03/08/13
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  • 27

    Apr

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    Apr

  • 16

    May

KTEC

Key Technology

$12.54

-0.54 (-4.13%)

16:29
04/27/17
04/27
16:29
04/27/17
16:29
Hot Stocks
Key Technology wins $9M deal with Lutosa »

Key Technology has been…

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  • 27

    Apr

COLM

Columbia Sportswear

$59.77

0.34 (0.57%)

16:29
04/27/17
04/27
16:29
04/27/17
16:29
Earnings
Columbia Sportswear cuts FY17 operating income to up 3% to $256M-$265M »

Previously forecast…

03/08/13
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  • 27

    Apr

MSCC

Microsemi

$49.14

0.15 (0.31%)

16:29
04/27/17
04/27
16:29
04/27/17
16:29
Earnings
Microsemi sees Q3 non-GAAP EPS 94c-$1.04, consensus 97c »

Sees Q3 revenue…

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03/06/13
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  • 27

    Apr

  • 09

    May

EHTH

eHealth

$11.74

0.23 (2.00%)

16:29
04/27/17
04/27
16:29
04/27/17
16:29
Earnings
eHealth reports Q1 adjusted EPS $1.93, consensus 39c »

Reports Q1 revenue…

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    Jun

SBUX

Starbucks

$61.28

-0.2792 (-0.45%)

16:28
04/27/17
04/27
16:28
04/27/17
16:28
Hot Stocks
Breaking Hot Stocks news story on Starbucks »

Starbucks U.S. Rewards…

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    Apr

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    May

MSCC

Microsemi

$49.14

0.15 (0.31%)

16:28
04/27/17
04/27
16:28
04/27/17
16:28
Earnings
Microsemi reports Q2 non-GAAP EPS 91c, consensus 89c »

Reports Q2 revenue…

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  • 27

    Apr

  • 09

    May

LECO

Lincoln Electric

$89.58

-0.71 (-0.79%)

, AIQUY

Air Liquide

$24.16

-0.23 (-0.94%)

16:28
04/27/17
04/27
16:28
04/27/17
16:28
Hot Stocks
Lincoln Electric acquires acquire Air Liquide welding »

Lincoln Electric Holdings…

LECO

Lincoln Electric

$89.58

-0.71 (-0.79%)

AIQUY

Air Liquide

$24.16

-0.23 (-0.94%)

03/08/13
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03/06/13
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03/06/13
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  • 09

    May

TCO

Taubman Centers

$64.32

0.02 (0.03%)

16:27
04/27/17
04/27
16:27
04/27/17
16:27
Earnings
Breaking Earnings news story on Taubman Centers »

Taubman Centers backs…

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  • 28

    Apr

AMKR

Amkor Technology

$12.33

0.35 (2.92%)

16:27
04/27/17
04/27
16:27
04/27/17
16:27
Technical Analysis
Amkor Technology trades to new 52-week high after results »

In the extended session…

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  • 02

    May

PXS

Pyxis Tankers

$1.98

-0.02 (-1.00%)

16:27
04/27/17
04/27
16:27
04/27/17
16:27
Syndicate
Pyxis Tankers files to sell $10M in common stock »

Maxim is acting as book…

03/08/13
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03/06/13
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LJPC

La Jolla

$28.18

-0.02 (-0.07%)

16:27
04/27/17
04/27
16:27
04/27/17
16:27
Earnings
La Jolla reports Q1 EPS ($1.26), consensus ($1.34) »

Reports no Q1 revenue,…

03/08/13
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03/06/13
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03/06/13
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  • 06

    Jun

TCO

Taubman Centers

$64.32

0.02 (0.03%)

16:27
04/27/17
04/27
16:27
04/27/17
16:27
Earnings
Taubman Centers reports Q1 adjusted FFO 92c, consensus 23c »

Reports Q1 revenue…

03/08/13
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  • 28

    Apr

FHB

First Hawaiian

$30.29

-0.24 (-0.79%)

16:26
04/27/17
04/27
16:26
04/27/17
16:26
Earnings
Breaking Earnings news story on First Hawaiian »

First Hawaiian reports Q1…

03/08/13
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03/06/13
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  • 27

    Apr

SBUX

Starbucks

$61.28

-0.2792 (-0.45%)

16:26
04/27/17
04/27
16:26
04/27/17
16:26
Hot Stocks
Starbucks says 'poised' for strong second half revenue »

The company said in…

03/08/13
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  • 27

    Apr

  • 24

    May

AFL

Aflac

$75.05

0.25 (0.33%)

16:26
04/27/17
04/27
16:26
04/27/17
16:26
Hot Stocks
Aflac expects to repurchase $1.3B-$1.5B of shares in 2017 »

"Turning to our U.S.…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 28

    Apr

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