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XLF

Financial Select Sector

$24.76

-0.075 (-0.30%)

, XLK

Technology Select Sector SPDR

$57.18

0.47 (0.83%)

13:20
08/11/17
08/11
13:20
08/11/17
13:20

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

The S&P 500 is set to end the week down substantially for the first time in many weeks. At the current price near 2445, initial support is at the 2440 area and then at the 2430 area. From that range in an uptrend line context, bounces have taken place in recent months. A breakdown below the 2430 area would signal a more major correction is underway as it would take out support going back to July and below 2420 to June. Resistance is at the 2450-2460 area. All sectors are set to end the week down. Leading on the downside were Energy (XLE), Basic Materials (XLB), Consumer Discretionary (XLY), Technology (XLK), and the Financials (XLF).

XLF

Financial Select Sector

$24.76

-0.075 (-0.30%)

XLK

Technology Select Sector SPDR

$57.18

0.47 (0.83%)

XLY

Consumer Discretionary Sector SPDR

$89.98

0.58 (0.65%)

XLB

S&P Select Materials SPDR

$53.58

-0.03 (-0.06%)

XLE

Energy Select Sector SPDR

$64.01

-0.3501 (-0.54%)

SPY

SPDR S&P 500 ETF Trust

$244.43

0.67 (0.27%)

SPX

S&P 500

XLF Financial Select Sector
$24.76

-0.075 (-0.30%)

XLK Technology Select Sector SPDR
$57.18

0.47 (0.83%)

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.
XLY Consumer Discretionary Sector SPDR
$89.98

0.58 (0.65%)

XLB S&P Select Materials SPDR
$53.58

-0.03 (-0.06%)

XLE Energy Select Sector SPDR
$64.01

-0.3501 (-0.54%)

SPY SPDR S&P 500 ETF Trust
$244.43

0.67 (0.27%)

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.
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.
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.

TODAY'S FREE FLY STORIES

IYR

DJ US Real Estate Index Fund

$82.33

-0.23 (-0.28%)

06:20
11/24/17
11/24
06:20
11/24/17
06:20
Technical Analysis
DJ US Real Estate Index Fund: Pivot points »

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IBB

iShares Nasdaq Biotechnology Index

$312.52

1.81 (0.58%)

06:19
11/24/17
11/24
06:19
11/24/17
06:19
Technical Analysis
iShares Nasdaq Biotechnology Index: Pivot points »

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LABD

Daily S&P Biotech Bear 3x Shares

$5.34

-0.09 (-1.66%)

06:19
11/24/17
11/24
06:19
11/24/17
06:19
Technical Analysis
Daily S&P Biotech Bear 3x Shares: Pivot points »

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BAYRY

Bayer

$32.05

-0.15 (-0.47%)

, NKTR

Nektar

$49.75

-0.23 (-0.46%)

06:19
11/24/17
11/24
06:19
11/24/17
06:19
Hot Stocks
Bayer announces INHALE Phase III clinical study did not meet primary endpoint »

Bayer (BAYRY) announced…

BAYRY

Bayer

$32.05

-0.15 (-0.47%)

NKTR

Nektar

$49.75

-0.23 (-0.46%)

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

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EWH

MSCI Hong Kong Index

$26.02

0.02 (0.08%)

06:19
11/24/17
11/24
06:19
11/24/17
06:19
Technical Analysis
MSCI Hong Kong Index: Pivot points »

The following are the…

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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EWG

iShares MSCI Germany

$32.82

-0.22 (-0.67%)

06:18
11/24/17
11/24
06:18
11/24/17
06:18
Technical Analysis
iShares MSCI Germany: Pivot points »

The following are the…

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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NCMGY

Newcrest Mining

$18.13

0.2 (1.12%)

06:18
11/24/17
11/24
06:18
11/24/17
06:18
Downgrade
Newcrest Mining rating change  »

Newcrest Mining…

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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IJR

iShares Core S&P Small Cap ETF

$76.06

-0.16 (-0.21%)

06:16
11/24/17
11/24
06:16
11/24/17
06:16
Technical Analysis
iShares Core S&P Small Cap ETF: Pivot points »

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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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EEM

MSCI Emerging Markets Index

$47.81

0.12 (0.25%)

06:16
11/24/17
11/24
06:16
11/24/17
06:16
Technical Analysis
MSCI Emerging Markets Index: Pivot points »

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EWW

iShares MSCI Mexico

$51.43

0.4 (0.78%)

06:14
11/24/17
11/24
06:14
11/24/17
06:14
Technical Analysis
iShares MSCI Mexico: Pivot points »

The following are the…

03/08/13
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03/08/13
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CPYYY

Centrica

$8.66

0.18 (2.12%)

06:14
11/24/17
11/24
06:14
11/24/17
06:14
Upgrade
Centrica rating change  »

Centrica upgraded to…

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

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DISH

Dish

$50.43

0.39 (0.78%)

, CBS

CBS

$56.24

-0.5 (-0.88%)

06:14
11/24/17
11/24
06:14
11/24/17
06:14
Hot Stocks
Dish reaches multi-year carriage agreement with CBS, terms not disclosed »

DISH Network (DISH) has…

DISH

Dish

$50.43

0.39 (0.78%)

CBS

CBS

$56.24

-0.5 (-0.88%)

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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UUP

PowerShares DB US Dollar Index Up

$24.24

-0.19 (-0.78%)

06:14
11/24/17
11/24
06:14
11/24/17
06:14
Technical Analysis
PowerShares DB US Dollar Index Up: Pivot points »

The following are the…

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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UDN

PowerShares DB US Dollar Index Down

$22.23

0.1881 (0.85%)

06:13
11/24/17
11/24
06:13
11/24/17
06:13
Technical Analysis
PowerShares DB US Dollar Index Down: Pivot points »

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03/08/13
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03/06/13
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TEVA

Teva

$13.48

0.15 (1.13%)

06:10
11/24/17
11/24
06:10
11/24/17
06:10
Periodicals
Teva to slash up to 25% of Israeli workforce, Bloomberg reports »

Teva intends to cut as…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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BASFY

BASF

$27.39

-0.13 (-0.47%)

04:55
11/24/17
11/24
04:55
11/24/17
04:55
Conference/Events
BASF management to meet with Evercore ISI »

Meetings to be held in…

03/08/13
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03/08/13
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03/06/13
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  • 24

    Nov

04:55
11/24/17
11/24
04:55
11/24/17
04:55
General news
PMI Composite Flash Manufacturing â€' Level to be reported at 09:45 »

November PMI Composite…

RBS

RBS

$7.30

-0.04 (-0.54%)

04:55
11/24/17
11/24
04:55
11/24/17
04:55
Conference/Events
RBS management to meet with Jefferies »

Meetings to be held in…

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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  • 24

    Nov

04:55
11/24/17
11/24
04:55
11/24/17
04:55
General news
Breaking General news story  »

Week of 11/22 Fed Balance…

04:55
11/24/17
11/24
04:55
11/24/17
04:55
General news
Breaking General news story  »

Week of 11/24…

04:55
11/24/17
11/24
04:55
11/24/17
04:55
General news
Breaking General news story  »

Week of 11/13 Money…

04:55
11/24/17
11/24
04:55
11/24/17
04:55
Conference/Events
RBC Capital to hold field trip »

European Utilities Field…

04:55
11/24/17
11/24
04:55
11/24/17
04:55
General news
PMI Composite Flash â€' Level to be reported at 09:45 »

November PMI Composite…

02:45
11/24/17
11/24
02:45
11/24/17
02:45
General news
FX Update: The dollar has managed to find a footing »

FX Update: The dollar…

10:30
11/23/17
11/23
10:30
11/23/17
10:30
General news
FX Action: EUR-USD, USD-JPY and other major pairings are in sideways mode »

FX Action: EUR-USD,…

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