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SPY

SPDR S&P 500 ETF Trust

$242.30

-0.286892 (-0.12%)

, SPX

S&P 500

14:53
06/16/17
06/16
14:53
06/16/17
14:53

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

The S&P 500 (SPX) remains in a shallow bearish, downward-sloping, price channel, but it is a new variant of the prior channel. This one began on Wednesday of this week. The high of the channel is at the 2435 area, and the low at the 2420 area. Those become the levels to beat for the bulls and bears, respectively. These levels should seem familiar as we've seen them in the prior channel, which was disrupted by the big peak of price in the index last Friday, June 9. Taking out the low of the prior channel at 2416 would confirm a topping process. A move back above 2440 would be bullish for price. Although we had a severe test of the mega-cap tech stocks over the past week, there was a compensating rotation into other sectors which helped keep the index from falling harder. That is likely not accidental given the sum of weights in the best-performing sectors were nearly precisely a null event for index price against the fall in tech. The weakest sector by far was Technology (XLK). On the upside, the Financials (XLF), Industrials (XLI), Health Care (XLV), and Energy (XLE) were the best-performers. The remaining sectors were flat to down or so small in relative weight to have little impact.

SPY

SPDR S&P 500 ETF Trust

$242.30

-0.286892 (-0.12%)

SPX

S&P 500

XLK

Technology Select Sector SPDR

$55.24

-0.10662 (-0.19%)

XLF

Financial Select Sector

$24.25

-0.066941 (-0.28%)

XLI

Industrial Select Sector SPDR

$68.57

0.113593 (0.17%)

XLV

Health Care Select Sector SPDR

$77.60

0.037823 (0.05%)

XLE

Energy Select Sector SPDR

$65.91

0.689047 (1.06%)

SPY SPDR S&P 500 ETF Trust
$242.30

-0.286892 (-0.12%)

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.
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.
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

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.
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.
XLK Technology Select Sector SPDR
$55.24

-0.10662 (-0.19%)

08/22/16
JEFF
08/22/16
NO CHANGE
JEFF
Jefferies ups SMID-cap Technology to Overweight, cuts REITs to Market Weight
Jefferies Equity Strategist Steven DeSanctis said that in terms of its SMID-cap sector strategy the firm is moving to an Overweight on Technology, citing Tech's "very strong" earnings season, reasonable valuations in the group and expectations for the recent M&A trend to continue. Also, the firm is moving Real Estate to Market Weight from Overweight, citing the belief that investors are shifting their preference towards growth and away from yield.
XLF Financial Select Sector
$24.25

-0.066941 (-0.28%)

XLI Industrial Select Sector SPDR
$68.57

0.113593 (0.17%)

XLV Health Care Select Sector SPDR
$77.60

0.037823 (0.05%)

XLE Energy Select Sector SPDR
$65.91

0.689047 (1.06%)

TODAY'S FREE FLY STORIES

CLS

Celestica

$13.79

0.05 (0.36%)

08:12
06/22/17
06/22
08:12
06/22/17
08:12
Downgrade
Celestica rating change  »

Celestica downgraded to…

03/08/13
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03/08/13
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03/06/13
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NLSN

Nielsen

$37.23

-0.92 (-2.41%)

08:11
06/22/17
06/22
08:11
06/22/17
08:11
Hot Stocks
Nielsen and Trax partner to develop shelf consumer data solution »

Nielsen and Trax, a…

03/08/13
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03/06/13
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03/06/13
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SUNW

Sunworks

$1.56

0.0315 (2.06%)

08:11
06/22/17
06/22
08:11
06/22/17
08:11
Hot Stocks
Sunworks announces new project for 760 KW solar system in Nevada »

Sunworks announced a new…

03/08/13
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03/06/13
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03/06/13
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NVEE

NV5 Global

$41.45

-0.5 (-1.19%)

08:10
06/22/17
06/22
08:10
06/22/17
08:10
Hot Stocks
NV5 Global awarded $7M contract for Bridge Replacement »

NV5 Global announced that…

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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VOD

Vodafone

$28.55

0.03 (0.11%)

08:09
06/22/17
06/22
08:09
06/22/17
08:09
Periodicals
Vodafone incorrectly charged 'Red Roaming' customers, Independent says »

Vodafone may face action…

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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TACO

Del Taco

$13.87

0.14 (1.02%)

08:09
06/22/17
06/22
08:09
06/22/17
08:09
Initiation
Del Taco initiated  »

Del Taco initiated with a…

03/08/13
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03/06/13
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03/06/13
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AAL

American Airlines

$48.43

0.4 (0.83%)

08:08
06/22/17
06/22
08:08
06/22/17
08:08
Technical Analysis
Technical View: American Airlines trades higher in pre-market »

The stock was last up…

03/08/13
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03/06/13
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  • 26

    Jun

  • 07

    Jul

QGEN

QIAGEN

$34.83

0.08 (0.23%)

08:08
06/22/17
06/22
08:08
06/22/17
08:08
Hot Stocks
QIAGEN's QuantiFERON TB test reimbursement approved by French health system »

QIAGEN's…

03/08/13
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  • 22

    Jun

AAL

American Airlines

$48.43

0.4 (0.83%)

08:08
06/22/17
06/22
08:08
06/22/17
08:08
Hot Stocks
Breaking Hot Stocks news story on American Airlines »

American Airlines:…

03/08/13
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03/06/13
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03/06/13
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  • 26

    Jun

  • 07

    Jul

SNE

Sony

$38.14

-0.02 (-0.05%)

, WWE

WWE

$20.38

0.23 (1.14%)

08:07
06/22/17
06/22
08:07
06/22/17
08:07
Hot Stocks
Sony Pictures Networks India, WWE announce WWE Sunday Dhamaal »

Sony Pictures Networks…

SNE

Sony

$38.14

-0.02 (-0.05%)

WWE

WWE

$20.38

0.23 (1.14%)

03/08/13
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03/06/13
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  • 22

    Jun

AAL

American Airlines

$48.43

0.4 (0.83%)

08:07
06/22/17
06/22
08:07
06/22/17
08:07
Hot Stocks
Breaking Hot Stocks news story on American Airlines »

American Airlines:…

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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  • 26

    Jun

  • 07

    Jul

GTIM

Good Times Restaurants

08:07
06/22/17
06/22
08:07
06/22/17
08:07
Initiation
Good Times Restaurants initiated  »

Good Times Restaurants…

03/08/13
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03/08/13
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AAL

American Airlines

$48.43

0.4 (0.83%)

08:07
06/22/17
06/22
08:07
06/22/17
08:07
Hot Stocks
Breaking Hot Stocks news story on American Airlines »

American Airlines: Qatar…

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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  • 26

    Jun

  • 07

    Jul

KMX

CarMax

$59.74

0.48 (0.81%)

08:06
06/22/17
06/22
08:06
06/22/17
08:06
Downgrade
CarMax rating change  »

CarMax downgraded on…

03/08/13
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  • 26

    Jun

  • 29

    Jun

  • 30

    Jun

AAL

American Airlines

$48.43

0.4 (0.83%)

08:06
06/22/17
06/22
08:06
06/22/17
08:06
Hot Stocks
American Airlines: Qatar Airways intends to make 'significant' investment »

In a regulatory filing,…

03/08/13
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03/06/13
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  • 26

    Jun

  • 07

    Jul

ANF

Abercrombie & Fitch

$12.05

-0.16 (-1.31%)

08:06
06/22/17
06/22
08:06
06/22/17
08:06
Upgrade
Abercrombie & Fitch rating change  »

Correction: Abercrombie…

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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08:05
06/22/17
06/22
08:05
06/22/17
08:05
General news
Treasury Market Outlook: bonds are little changed »

Treasury Market Outlook:…

WFM

Whole Foods

$43.26

0.48 (1.12%)

, KR

Kroger

$22.37

-0.01 (-0.04%)

08:04
06/22/17
06/22
08:04
06/22/17
08:04
Recommendations
Whole Foods, Kroger, Costco, Target, Wal-Mart, Amazon.com analyst commentary  »

JPMorgan has 'hard…

WFM

Whole Foods

$43.26

0.48 (1.12%)

KR

Kroger

$22.37

-0.01 (-0.04%)

COST

Costco

$163.15

0.25 (0.15%)

TGT

Target

$50.52

-0.39 (-0.77%)

WMT

Wal-Mart

$76.24

0.7 (0.93%)

AMZN

Amazon.com

$1,002.23

9.64 (0.97%)

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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  • 22

    Jun

  • 28

    Jun

  • 23

    Aug

ISBC

Investors Bancorp

$13.08

-0.18 (-1.36%)

08:04
06/22/17
06/22
08:04
06/22/17
08:04
Hot Stocks
Investors Bancorp appoints Michael Fegan Chief Information and Operations Office »

Investors Bank has…

03/08/13
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JW.A

John Wiley

$51.75

0.4 (0.78%)

, JW.B

08:04
06/22/17
06/22
08:04
06/22/17
08:04
Hot Stocks
John Wiley & Sons raises quarterly dividend 3% to 32c per share »

John Wiley & Sons…

JW.A

John Wiley

$51.75

0.4 (0.78%)

JW.B

JWB

John Wiley & Sons; also tag JWA

JWA

John Wiley & Sons; also tag JWB

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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AME

Ametek

$60.51

-1.36 (-2.20%)

, MOCO

Mocon

08:04
06/22/17
06/22
08:04
06/22/17
08:04
Hot Stocks
Ametek completes acquisition of Mocon »

Ametek (AME) announced…

AME

Ametek

$60.51

-1.36 (-2.20%)

MOCO

Mocon

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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TSE

Trinseo

$65.05

-0.5 (-0.76%)

08:03
06/22/17
06/22
08:03
06/22/17
08:03
Hot Stocks
Trinseo increases quarterly dividend, announces new share repurchase program »

Trinseo announced that…

03/08/13
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03/06/13
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03/06/13
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TROV

Trovagene

$0.95

0.0471 (5.24%)

08:02
06/22/17
06/22
08:02
06/22/17
08:02
Hot Stocks
Trovagene to provide Trovera tests and services for global pharma company »

Trovagene has entered…

03/08/13
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03/06/13
Citigroup
03/06/13
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HAIN

Hain Celestial

$33.16

0.13 (0.39%)

08:02
06/22/17
06/22
08:02
06/22/17
08:02
Technical Analysis
Technical View: Hain Celestial up after earnings, buybacks, new CFO »

The shares were last up…

03/08/13
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03/06/13
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03/06/13
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  • 22

    Jun

  • 27

    Jun

TSLA

Tesla

$376.40

4.16 (1.12%)

08:01
06/22/17
06/22
08:01
06/22/17
08:01
Periodicals
Tianjin not participating in Tesla's China project at this time, Reuters says »

Tianjin Motors says it…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 02

    Oct

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