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XLY

Consumer Discretionary Sector SPDR

$90.52

-0.77 (-0.84%)

, XLU

Utilities SPDR

$53.98

-0.19 (-0.35%)

14:08
08/09/17
08/09
14:08
08/09/17
14:08

Technical View: S&P 500 index heads lower

The S&P 500 (SPX) did briefly break its pivot low of the day at 2462.345, but that set off an immediate counter-reaction trade on the upside which peaked in price before noon eastern time. The index is heading back down slowly and could well retest that low. Resistance is at 2471.11. A break below 2467 in the short-term might suggest a larger dip is setting up. Most sectors are flat or in the red at time of writing with Consumer Discretionary (XLY), Utilities (XLU), Financials (XLF), Real Estate (IYR), and Energy (XLE) leading on the downside in descending order.

XLY

Consumer Discretionary Sector SPDR

$90.52

-0.77 (-0.84%)

XLU

Utilities SPDR

$53.98

-0.19 (-0.35%)

XLF

Financial Select Sector

$25.19

-0.09 (-0.36%)

IYR

DJ US Real Estate Index Fund

$79.95

-0.1653 (-0.21%)

XLE

Energy Select Sector SPDR

$64.88

-0.11 (-0.17%)

SPY

SPDR S&P 500 ETF Trust

$246.83

-0.43 (-0.17%)

SPX

S&P 500

XLY Consumer Discretionary Sector SPDR
$90.52

-0.77 (-0.84%)

XLU Utilities SPDR
$53.98

-0.19 (-0.35%)

XLF Financial Select Sector
$25.19

-0.09 (-0.36%)

IYR DJ US Real Estate Index Fund
$79.95

-0.1653 (-0.21%)

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.
XLE Energy Select Sector SPDR
$64.88

-0.11 (-0.17%)

SPY SPDR S&P 500 ETF Trust
$246.83

-0.43 (-0.17%)

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.
06/28/17
GSCO
06/28/17
NO CHANGE
GSCO
S&P 500 price target raised to 2,400 from 2,300 at Goldman Sachs
Goldman analyst David Kostin raised his S&P 500 earnings estimate to $129 from $123 in 2017 and to $139 from $129 in 2018 to reflect strong Q1 results and higher expected growth in Financials and Info Tech. Kostin raised his year-end S&P 500 price target to 2,400 from 2,300 to reflect earnings growth of 9%, offset by a 4% contraction in the forward multiple.
SPX S&P 500

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.

TODAY'S FREE FLY STORIES

DUST

Direxion Daily Gold Miners Bear 3X ETF

$26.31

0.61 (2.37%)

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JDST

Direxion Daily Junior Gold Miners Index Bear 3x Shares

$60.10

1.74 (2.98%)

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VXX

iPath S&P 500 VIX Short-Term Futures

$47.36

-3.72 (-7.28%)

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XIV

VelocityShares Daily Inverse VIX Short-Term ETN

$82.37

5.27 (6.84%)

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TVIX

VelocityShares Daily 2x VIX Short-Term ETN

$16.79

-2.75 (-14.07%)

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SVXY

ProShares Short VIX Short-Term Futures

$78.87

5.4 (7.35%)

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USO

United States Oil Fund

$9.77

0.06 (0.62%)

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Technical Analysis
United States Oil Fund: Pivot points, pivot low broken »

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XOP

SPDR Oil Exploration and Production Fund

$29.34

0.25 (0.86%)

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Technical Analysis
SPDR Oil Exploration and Production Fund: Pivot points »

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

$25.16

0.58 (2.36%)

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UGAZ

VelocityShares 3x Long Natural Gas ETN

$12.14

-0.29 (-2.33%)

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EWZ

MSCI Brazil Index

$39.33

0.58 (1.50%)

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MSCI Brazil Index: Pivot points »

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EFA

iShares MSCI EAFE Index Fund

$66.49

0.32 (0.48%)

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JNK

SPDR Barclays High Yield Bond

$37.02

0.17 (0.46%)

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Technical Analysis
SPDR Barclays High Yield Bond: Pivot points »

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SJB

ProShares Short High Yield

$23.44

-0.12 (-0.51%)

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Technical Analysis
ProShares Short High Yield: Pivot points »

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HYG

iShares iBoxx $ High Yield Corporate Bond

$87.92

0.36 (0.41%)

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Technical Analysis
iShares iBoxx $ High Yield Corporate Bond: Pivot points »

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LQD

iShares iBoxx $ Investment Grade Corporate Bond

$120.70

-0.12 (-0.10%)

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TLT

iShares 20+ Year Treasury Bond Fund

$126.44

-0.49 (-0.39%)

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SLV

iShares Silver Trust

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Technical Analysis
iShares Silver Trust: Pivot points »

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USLV

VelocityShares 3x Long Silver ETN

$12.37

-0.01 (-0.08%)

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IYR

DJ US Real Estate Index Fund

$79.82

-0.07 (-0.09%)

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Technical Analysis
DJ US Real Estate Index Fund: Pivot points »

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IBB

iShares Nasdaq Biotechnology Index

$310.52

5.84 (1.92%)

05:48
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Technical Analysis
iShares Nasdaq Biotechnology Index: Pivot points »

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LABD

Daily S&P Biotech Bear 3x Shares

$6.65

-0.52 (-7.25%)

05:48
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Technical Analysis
Daily S&P Biotech Bear 3x Shares: Pivot points »

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EWH

MSCI Hong Kong Index

$24.35

0.24 (1.00%)

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Technical Analysis
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EWG

iShares MSCI Germany

$30.84

0.3 (0.98%)

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Technical Analysis
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IJR

iShares Core S&P Small Cap ETF

$67.73

0.65 (0.97%)

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