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SPY

SPDR S&P 500 ETF Trust

$234.42

-0.9213 (-0.39%)

, SPX

S&P 500

$2,347.19

-8.65 (-0.37%)

13:45
04/21/17
04/21
13:45
04/21/17
13:45

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

The S&P 500 (SPX) looks set to end the week up fractionally, but on a longer-term basis this has meant price is only reconnecting with the downtrend resistance line that has formed since late February. For the downtrend to be broken would require a move and a close soon above the 2365 area. The 2330 area remains as support that needs to hold, even if price merely bases near it. A sharp move below 2330 would almost certainly mean the index was on the way to test at 2300. There are both substantial geopolitical risks and earnings ahead, which will be major catalysts for price action. In the past week, sector breadth was relatively weak. In descending order of gains, the best-performers were Consumer Cyclicals (XLY), Financials (XLF), Industrials (XLI), and Materials (XLB). The weakest sector was Energy (XLE).

SPY

SPDR S&P 500 ETF Trust

$234.42

-0.9213 (-0.39%)

SPX

S&P 500

$2,347.19

-8.65 (-0.37%)

XLY

Consumer Discretionary Sector SPDR

$88.12

-0.335 (-0.38%)

XLF

Financial Select Sector

$23.19

-0.2099 (-0.90%)

XLI

Industrial Select Sector SPDR

$65.34

-0.01 (-0.02%)

XLB

S&P Select Materials SPDR

$52.14

-0.12 (-0.23%)

XLE

Energy Select Sector SPDR

$67.70

-0.43 (-0.63%)

SPY SPDR S&P 500 ETF Trust
$234.42

-0.9213 (-0.39%)

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.
11/01/16
11/01/16
NO CHANGE

S&P 500 breaks support at 2100
The index was last at 2098.91, down over 1.2% on the day. At current price next support is at 2091.75. Resistance is at the 2110 area. A prior note had an incorrect support level of 1991.68, which this note corrects.
04/10/17
MSCO
04/10/17
NO CHANGE
MSCO
Morgan Stanley sets S&P 500 'base case' price target of 2,700
Morgan Stanley U.S. Equity Strategist Michael Wilson set a 12-month "base case" price target of 2,700 for the S&P 500, stating that market technicals are in "very good shape" and institutional and retail data suggest U.S. equity positioning is not extreme. A cyclical upturn began a year ago as the global business cycle bottomed in Q1 of 2016 and President Trump's election then "turbocharged" that cycle, said Wilson.
SPX S&P 500
$2,347.19

-8.65 (-0.37%)

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.
03/08/17
03/08/17
NO CHANGE

David Tepper says stock market on multiple basis 'kind of full'
Appaloosa Management's David Tepper is speaking in CNBC.
XLY Consumer Discretionary Sector SPDR
$88.12

-0.335 (-0.38%)

XLF Financial Select Sector
$23.19

-0.2099 (-0.90%)

XLI Industrial Select Sector SPDR
$65.34

-0.01 (-0.02%)

XLB S&P Select Materials SPDR
$52.14

-0.12 (-0.23%)

XLE Energy Select Sector SPDR
$67.70

-0.43 (-0.63%)

TODAY'S FREE FLY STORIES

USG

USG

$32.65

0.75 (2.35%)

09:10
04/27/17
04/27
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USG sees mid-single digit net inflation in Gypsum, Ceilings costs in 2017 »

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HUBS

HubSpot

$64.90

-0.9 (-1.37%)

09:09
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04/27
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09:09
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HubSpot analyst commentary  »

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  • 02

    May

CLWT

Euro Tech Holdings

09:07
04/27/17
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09:07
Technical Analysis
Euro Tech Holdings surges after results »

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ORLY

O'Reilly Automotive

$265.07

1.11 (0.42%)

09:07
04/27/17
04/27
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09:07
Recommendations
O'Reilly Automotive analyst commentary  »

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CFFN

Capital Federal

$14.87

0.03 (0.20%)

09:07
04/27/17
04/27
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09:07
Earnings
Capital Federal reports Q1 EPS 16c, consensus 16c »

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VTGN

VistaGen Therapeutics

$1.96

-0.01 (-0.51%)

09:07
04/27/17
04/27
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09:07
Hot Stocks
VistaGen announces publication of AV-101 data in Journal of Pain »

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PYPL

PayPal

$44.41

-0.3 (-0.67%)

09:06
04/27/17
04/27
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09:06
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PayPal analyst commentary  »

PayPal margins have…

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NOVN

Novan

$5.45

0.06 (1.11%)

09:06
04/27/17
04/27
09:06
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09:06
Hot Stocks
Novan presents preclinical data from inflammatory skin diseases program »

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JAZZ

Jazz Pharmaceuticals

$157.75

2.85 (1.84%)

09:06
04/27/17
04/27
09:06
04/27/17
09:06
Recommendations
Jazz Pharmaceuticals analyst commentary  »

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  • 09

    May

HTM

U.S. Geothermal

$4.17

0.04 (0.97%)

09:05
04/27/17
04/27
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09:05
Hot Stocks
U.S. Geothermal provides update on Raft River expansion program »

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STX

Seagate

$42.01

-8.5 (-16.83%)

09:05
04/27/17
04/27
09:05
04/27/17
09:05
Recommendations
Seagate analyst commentary  »

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  • 08

    Jun

09:05
04/27/17
04/27
09:05
04/27/17
09:05
General news
U.S. durable goods orders rose 0.7% in March »

U.S. durable goods orders…

ORI

Old Republic

$20.22

0.15 (0.75%)

09:04
04/27/17
04/27
09:04
04/27/17
09:04
Earnings
Old Republic reports Q1 EPS 39c, consensus 31c »

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F

Ford

$11.60

0.12 (1.05%)

09:04
04/27/17
04/27
09:04
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09:04
Hot Stocks
Ford says 'fit' for any future downturn in North America »

Comments taken from the…

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  • 27

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UPS

UPS

$107.62

0.26 (0.24%)

09:04
04/27/17
04/27
09:04
04/27/17
09:04
Hot Stocks
Breaking Hot Stocks news story on UPS »

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ANTM

Anthem

$179.03

6.57 (3.81%)

, CVS

CVS Health

$82.00

-0.17 (-0.21%)

09:03
04/27/17
04/27
09:03
04/27/17
09:03
Recommendations
Anthem, CVS Health, Express Scripts analyst commentary  »

Anthem price target…

ANTM

Anthem

$179.03

6.57 (3.81%)

CVS

CVS Health

$82.00

-0.17 (-0.21%)

ESRX

Express Scripts

$61.28

1.27 (2.12%)

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CBS

CBS

$66.91

0.5 (0.75%)

09:03
04/27/17
04/27
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CBS analyst commentary  »

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GRUB

GrubHub

$35.02

0.24 (0.69%)

09:03
04/27/17
04/27
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09:03
Earnings
GrubHub sees FY17 revenue $632M-$662M, consensus $644.39M »

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BANC

Banc of California

$22.45

-0.15 (-0.66%)

09:03
04/27/17
04/27
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09:03
Hot Stocks
Banc of California names Doug Bowers as CEO, effective May 8 »

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  • 06

    Jun

ORRF

Orrstown Financial

$21.95

-0.45 (-2.01%)

09:03
04/27/17
04/27
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09:03
Earnings
Orrstown Financial reports Q1 EPS 24c, consensus 20c »

Net interest income…

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  • 02

    May

GRUB

GrubHub

$35.02

0.24 (0.69%)

09:02
04/27/17
04/27
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09:02
Earnings
GrubHub sees Q2 revenue $153M-$161M, consensus $157.95M »

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  • 27

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GRUB

GrubHub

$35.02

0.24 (0.69%)

09:01
04/27/17
04/27
09:01
04/27/17
09:01
Earnings
GrubHub reports Q1 non-GAAP EPS 29c, consensus 24c »

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  • 27

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DISCA

Discovery

$29.39

0.1 (0.34%)

09:00
04/27/17
04/27
09:00
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09:00
Periodicals
Discovery Asia partners with VS Media, Tabilabo, Variety says »

Discovery Networks Asia…

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    May

CNMD

CONMED

$48.13

0.93 (1.97%)

09:00
04/27/17
04/27
09:00
04/27/17
09:00
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CONMED analyst commentary  »

CONMED price target…

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  • 03

    May

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UA

Under Armour

$18.14

0.17 (0.95%)

, UAA

Under Armour

$19.71

0.18 (0.92%)

09:00
04/27/17
04/27
09:00
04/27/17
09:00
Hot Stocks
Under Armour CFO sees Q4 to be strongest comparison of 2017 'by far' »

Under Armour CFO David…

UA

Under Armour

$18.14

0.17 (0.95%)

UAA

Under Armour

$19.71

0.18 (0.92%)

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