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XLE

Energy Select Sector SPDR

$65.57

-0.114621 (-0.17%)

, XLV

Health Care Select Sector SPDR

$82.60

-0.255245 (-0.31%)

13:40
09/15/17
09/15
13:40
09/15/17
13:40

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

The S&P 500 (SPX) is set to end the week at a new life high and just short of the 2500 level at time of writing. The gain for the week was quite stable relative to the prior sine wave moves seen for the last couple of months. It was the stability of the move up, rather than raw momentum, that helped the index get here without much in the way of bullish enthusiasm. The key for the index now is to keep building higher. In technical terms the common wisdom view is that breakouts above levels should be strong and clear prior resistance by a big margin. If we have learned one thing in the last two years, it is that the indexes can make new highs without that surge. It's been one of the puzzling features of the new machine trading age that we all need to accept and incorporate into our thinking and analysis. Many traders, it seems, appear to be waiting for a return of "markets that make sense," which is shorthand for pre-crisis modality. It's probable this new environment is the reality we need to accept, or face punishing underperformance. Fund flows have been surprisingly robust given the macro backdrop and that has been something of a put under price. For the week, the best performing sectors were Energy (XLE), Health Care (XLV), and the Financials (XLF) in descending order, not including today's action. It has been interesting to see the Industrials (XLI) and Technology (XLK) still be positive but no longer outperformers. The worst performing sectors were Consumer Cyclicals (XLY) and the Utilities (XLU).

XLE

Energy Select Sector SPDR

$65.57

-0.114621 (-0.17%)

XLV

Health Care Select Sector SPDR

$82.60

-0.255245 (-0.31%)

XLF

Financial Select Sector

$24.72

0.023225 (0.09%)

XLI

Industrial Select Sector SPDR

$69.33

0.225878 (0.33%)

XLK

Technology Select Sector SPDR

$58.71

0.209224 (0.36%)

XLY

Consumer Discretionary Sector SPDR

$89.75

-0.132054 (-0.15%)

XLU

Utilities SPDR

$54.63

-0.042758 (-0.08%)

SPY

SPDR S&P 500 ETF Trust

$248.98

0.124574 (0.05%)

SPX

S&P 500

XLE Energy Select Sector SPDR
$65.57

-0.114621 (-0.17%)

XLV Health Care Select Sector SPDR
$82.60

-0.255245 (-0.31%)

XLF Financial Select Sector
$24.72

0.023225 (0.09%)

XLI Industrial Select Sector SPDR
$69.33

0.225878 (0.33%)

XLK Technology Select Sector SPDR
$58.71

0.209224 (0.36%)

XLY Consumer Discretionary Sector SPDR
$89.75

-0.132054 (-0.15%)

XLU Utilities SPDR
$54.63

-0.042758 (-0.08%)

SPY SPDR S&P 500 ETF Trust
$248.98

0.124574 (0.05%)

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

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

09:54
01/17/18
01/17
09:54
01/17/18
09:54
General news
Market opens with gains, but holding them will be the focus »

Stock futures were higher…

ACLS

Axcelis

$30.30

1.15 (3.95%)

09:53
01/17/18
01/17
09:53
01/17/18
09:53
Hot Stocks
Breaking Hot Stocks news story on Axcelis »

Axcelis drops 5% to…

03/08/13
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  • 17

    Jan

XLF

Financial Select Sector

$29.16

0.01 (0.03%)

, XLE

Energy Select Sector SPDR

$76.69

0.25 (0.33%)

09:52
01/17/18
01/17
09:52
01/17/18
09:52
Technical Analysis
Technical Take: S&P 500 moves moderately higher, sector breadth mixed »

The S&P 500 (SPX) was…

XLF

Financial Select Sector

$29.16

0.01 (0.03%)

XLE

Energy Select Sector SPDR

$76.69

0.25 (0.33%)

XLI

Industrial Select Sector SPDR

$79.59

0.14 (0.18%)

XLK

Technology Select Sector SPDR

$66.91

0.36 (0.54%)

XLP

Consumer Staples Sector SPDR

$57.23

0.32 (0.56%)

XLV

Health Care Select Sector SPDR

$87.53

0.28 (0.32%)

SPY

SPDR S&P 500 ETF Trust

$277.86

0.89 (0.32%)

SPX

S&P 500

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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QADB

QAD Inc

$31.80

0.05 (0.16%)

09:50
01/17/18
01/17
09:50
01/17/18
09:50
Hot Stocks
Breaking Hot Stocks news story on QAD Inc 

QAD Inc trading resumes

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

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ITIC

Investors Title Company

$199.00

3.26 (1.67%)

09:50
01/17/18
01/17
09:50
01/17/18
09:50
Hot Stocks
Breaking Hot Stocks news story on Investors Title Company »

Investors Title Company…

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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XLP

Consumer Staples Sector SPDR

$57.07

0.16 (0.28%)

09:45
01/17/18
01/17
09:45
01/17/18
09:45
Technical Analysis
Technical Take: Consumer Staples Sector SPDR nearing breakout »

The Consumer Staples…

03/08/13
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03/06/13
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03/06/13
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QADB

QAD Inc

$31.80

0.05 (0.16%)

09:45
01/17/18
01/17
09:45
01/17/18
09:45
Hot Stocks
Breaking Hot Stocks news story on QAD Inc »

QAD Inc trading halted,…

03/08/13
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03/06/13
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03/06/13
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ITIC

Investors Title Company

$199.00

3.26 (1.67%)

09:45
01/17/18
01/17
09:45
01/17/18
09:45
Hot Stocks
Breaking Hot Stocks news story on Investors Title Company »

Investors Title Company…

03/08/13
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03/06/13
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03/06/13
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09:45
01/17/18
01/17
09:45
01/17/18
09:45
General news
Housing Market Index to be reported at 10:00 »

January Housing Market…

CDK

CDK Global

$74.57

-1.2 (-1.58%)

09:40
01/17/18
01/17
09:40
01/17/18
09:40
Downgrade
CDK Global rating change  »

CDK Global downgraded to…

03/08/13
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03/06/13
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03/06/13
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  • 30

    Jan

LQD

iShares iBoxx $ Investment Grade Corporate Bond

, FAST

Fastenal

$55.44

-0.15 (-0.27%)

09:40
01/17/18
01/17
09:40
01/17/18
09:40
Options
Unusually active option classes on open January 17th »

Unusual total active…

LQD

iShares iBoxx $ Investment Grade Corporate Bond

FAST

Fastenal

$55.44

-0.15 (-0.27%)

ROKU

Roku

$39.19

-4.19 (-9.66%)

SPX

S&P 500

BAC

Bank of America

GE

General Electric

GS

Goldman Sachs

AMAT

Applied Materials

$54.50

1.05 (1.96%)

DIA

Diamonds Fund ETF

CSX

CSX

$58.13

-1.12 (-1.89%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 17

    Jan

  • 17

    Jan

  • 17

    Jan

  • 18

    Jan

  • 18

    Jan

  • 24

    Jan

  • 31

    Jan

  • 15

    Feb

  • 01

    Mar

CNTE

Contura Energy

$66.70

-0.74 (-1.10%)

09:39
01/17/18
01/17
09:39
01/17/18
09:39
Downgrade
Contura Energy rating change  »

Contura Energy downgraded…

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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WEX

Wex

09:39
01/17/18
01/17
09:39
01/17/18
09:39
Recommendations
Wex analyst commentary  »

Wex price target raised…

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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  • 21

    Feb

EAT

Brinker

09:38
01/17/18
01/17
09:38
01/17/18
09:38
Upgrade
Brinker rating change  »

Brinker upgraded to Mixed…

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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SID

CSN

09:38
01/17/18
01/17
09:38
01/17/18
09:38
Upgrade
CSN rating change  »

CSN upgraded to Neutral…

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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AMAT

Applied Materials

09:37
01/17/18
01/17
09:37
01/17/18
09:37
Technical Analysis
Technical Take: Applied Materials higher with peers »

The stock was last up…

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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CWT

California Water Service

09:36
01/17/18
01/17
09:36
01/17/18
09:36
Downgrade
California Water Service rating change  »

Hilliard Lyons downgrades…

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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TSS

TSYS

09:36
01/17/18
01/17
09:36
01/17/18
09:36
Recommendations
TSYS analyst commentary  »

TSYS price target raised…

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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  • 23

    Jan

NTRA

Natera

$9.87

-0.31 (-3.05%)

09:36
01/17/18
01/17
09:36
01/17/18
09:36
Initiation
Natera initiated  »

Natera initiated with a…

03/08/13
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03/08/13
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BETR

Amplify Snack Brands

, HSY

Hershey

09:36
01/17/18
01/17
09:36
01/17/18
09:36
Recommendations
Amplify Snack Brands, Hershey analyst commentary  »

Amplify Snack Brands…

BETR

Amplify Snack Brands

HSY

Hershey

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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09:35
01/17/18
01/17
09:35
01/17/18
09:35
General news
FX Action: The dollar »

FX Action: The dollar…

PYPL

PayPal

$80.42

-0.12 (-0.15%)

09:34
01/17/18
01/17
09:34
01/17/18
09:34
Recommendations
PayPal analyst commentary  »

PayPal price target…

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

    Mar

BBVA

Banco Bilbao

09:34
01/17/18
01/17
09:34
01/17/18
09:34
Downgrade
Banco Bilbao rating change  »

Banco Bilbao downgraded…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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CMA

Comerica

09:33
01/17/18
01/17
09:33
01/17/18
09:33
Recommendations
Comerica analyst commentary  »

Comerica price target…

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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CWT

California Water Service

09:33
01/17/18
01/17
09:33
01/17/18
09:33
Downgrade
California Water Service rating change  »

California Water…

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

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