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XLF

Financial Select Sector

$26.11

-0.015 (-0.06%)

, XLK

Technology Select Sector SPDR

$60.54

0.33 (0.55%)

14:45
10/13/17
10/13
14:45
10/13/17
14:45

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

The S&P 500 (SPX) is set to end the week higher and in new high territory at time of writing, with price last near 2555. The next two weeks in particular have exceptionally-packed calendars for companies reporting earnings. It is now those many reports that will drive the index, making technical estimates relatively moot. Any exceptional news, positive or negative, could create major price swings. That said, with the index at new highs it is clear that trader expectations are very bullish. That could be a setup for sharp disappointment if earnings, and outlooks in particular, are not as strong as current expectations suggest. The initial big level on the downside would be at 2525. A breakdown in price below that level would snap the uptrend in place since the August lows. On the upside there is no resistance, with a run to the 2560-2570 area a high probability if earnings are solid. It was a mixed bag in terms of sector performance in the last week, with leadership coming from Technology (XLK), the Utilities (XLU), Financials (XLF), and Consumer Staples (XLP). That is a somewhat unusual grouping of leading sectors given that Technology is seen as a "risk on" play and Utilities and Consumer Staples as "risk off".

XLF

Financial Select Sector

$26.11

-0.015 (-0.06%)

XLK

Technology Select Sector SPDR

$60.54

0.33 (0.55%)

XLU

Utilities SPDR

$54.08

-0.455 (-0.83%)

XLP

Consumer Staples Sector SPDR

$54.62

0.15 (0.28%)

SPY

SPDR S&P 500 ETF Trust

$255.04

0.4 (0.16%)

SPX

S&P 500

$0.00

(0.00%)

XLF Financial Select Sector
$26.11

-0.015 (-0.06%)

XLK Technology Select Sector SPDR
$60.54

0.33 (0.55%)

XLU Utilities SPDR
$54.08

-0.455 (-0.83%)

XLP Consumer Staples Sector SPDR
$54.62

0.15 (0.28%)

SPY SPDR S&P 500 ETF Trust
$255.04

0.4 (0.16%)

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
$0.00

(0.00%)

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

ASNA

Ascena Retail

$4.02

-0.21 (-4.96%)

, BAS

Basic Energy

$9.44

0.18 (1.94%)

18:56
09/24/18
09/24
18:56
09/24/18
18:56
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: Ascena…

ASNA

Ascena Retail

$4.02

-0.21 (-4.96%)

BAS

Basic Energy

$9.44

0.18 (1.94%)

KEG

Key Energy

$13.46

-0.18 (-1.32%)

PSTI

Pluristem

$1.31

(0.00%)

ARNA

Arena Pharmaceuticals

$42.80

-1.05 (-2.39%)

NOVN

Novan

$2.72

0.015 (0.56%)

SNDX

Syndax

$7.23

0.46 (6.79%)

DCPH

Deciphera

$39.80

0.78 (2.00%)

BJ

BJ's Wholesale

$28.47

-0.68 (-2.33%)

PETQ

PetIQ

$41.07

-0.55 (-1.32%)

CNP

CenterPoint Energy

$27.81

-0.23 (-0.82%)

CTL

CenturyLink

$22.90

-0.04 (-0.17%)

PBR

Petrobras

$11.40

-0.105 (-0.91%)

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PBR

Petrobras

$11.40

-0.105 (-0.91%)

18:54
09/24/18
09/24
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18:54
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Breaking Hot Stocks news story on Petrobras »

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VRSN

VeriSign

$158.97

-0.79 (-0.49%)

18:39
09/24/18
09/24
18:39
09/24/18
18:39
Recommendations
VeriSign analyst commentary  »

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TI

Telecom Italia

$6.54

-0.1 (-1.51%)

18:35
09/24/18
09/24
18:35
09/24/18
18:35
Periodicals
Telecom Italia discussed Nextel bid at board meeting, Bloomberg says »

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INSG

Inseego

$4.01

-0.08 (-1.96%)

18:31
09/24/18
09/24
18:31
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18:31
Hot Stocks
Inseego names John Weldon to head Enterprise SaaS Solutions division »

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PCG

PG&E

$46.30

-0.48 (-1.03%)

18:31
09/24/18
09/24
18:31
09/24/18
18:31
Periodicals
PG&E says will invest $360M in electric car infrastructure, Bloomberg says »

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KKR

KKR

$28.25

-0.01 (-0.04%)

18:21
09/24/18
09/24
18:21
09/24/18
18:21
Hot Stocks
KKR announces intra-quarter Q3 monetization activity »

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UNH

UnitedHealth

$267.35

0.6 (0.22%)

, EVHC

Envision Healthcare

$45.72

0.07 (0.15%)

18:17
09/24/18
09/24
18:17
09/24/18
18:17
Periodicals
UnitedHealth tells Hospitals about Envision ER contracts, Reuters says »

UnitedHealth (UNH) plans…

UNH

UnitedHealth

$267.35

0.6 (0.22%)

EVHC

Envision Healthcare

$45.72

0.07 (0.15%)

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AMZN

Amazon.com

$1,934.50

16.75 (0.87%)

, UBER

Uber

$0.00

(0.00%)

18:14
09/24/18
09/24
18:14
09/24/18
18:14
Periodicals
Amazon has made two approaches to buy Deliveroo, Telegraph reports »

Amazon has made two…

AMZN

Amazon.com

$1,934.50

16.75 (0.87%)

UBER

Uber

$0.00

(0.00%)

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  • 26

    Sep

BK

BNY Mellon

$52.36

-0.9 (-1.69%)

17:48
09/24/18
09/24
17:48
09/24/18
17:48
Hot Stocks
BNY Mellon Investment Management to close EACM Advisors »

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  • 18

    Oct

EPZM

Epizyme

$10.23

-0.075 (-0.73%)

17:44
09/24/18
09/24
17:44
09/24/18
17:44
Initiation
Epizyme initiated  »

Epizyme initiated with a…

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  • 24

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    Oct

NAVB

Navidea

$0.25

-0.0135 (-5.14%)

17:31
09/24/18
09/24
17:31
09/24/18
17:31
Hot Stocks
Breaking Hot Stocks news story on Navidea »

John K. Scott, Jr.…

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LYL

Dragon Victory

$1.46

(0.00%)

17:30
09/24/18
09/24
17:30
09/24/18
17:30
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Breaking Hot Stocks news story on Dragon Victory »

White Knight Ltd reports…

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RDS.A

Royal Dutch Shell

$68.18

0.89 (1.32%)

, RDS.B

Royal Dutch Shell

$70.25

0.67 (0.96%)

17:30
09/24/18
09/24
17:30
09/24/18
17:30
Periodicals
Shell CEO weighs $30B LNG export terminal in Canada, WSJ says »

Royal Dutch Shell CEO Ben…

RDS.A

Royal Dutch Shell

$68.18

0.89 (1.32%)

RDS.B

Royal Dutch Shell

$70.25

0.67 (0.96%)

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SEND

SendGrid

$35.40

-0.085 (-0.24%)

17:27
09/24/18
09/24
17:27
09/24/18
17:27
Initiation
SendGrid initiated  »

SendGrid initiated with a…

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PGNX

Progenics

$6.44

0.03 (0.47%)

17:25
09/24/18
09/24
17:25
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17:25
Hot Stocks
Breaking Hot Stocks news story on Progenics »

Armistice Capital reports…

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VLY

Valley National

$11.76

-0.26 (-2.16%)

17:20
09/24/18
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17:20
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17:20
Hot Stocks
Valley National announces transfer of listing to Nasdaq »

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CPT

Camden Property

$93.35

-1.6 (-1.69%)

17:18
09/24/18
09/24
17:18
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17:18
Hot Stocks
Camden Property completes acquisition of Florida apartment community »

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ST

Sensata

$50.74

-1.14 (-2.20%)

17:13
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17:13
Hot Stocks
Sensata acquires privately-held GIGAVAC FOR approximately $233M »

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  • 13

    Nov

BA

Boeing

$368.04

-3.84 (-1.03%)

17:13
09/24/18
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17:13
Hot Stocks
Boeing awarded $375.6M U.S. Air Force contract »

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LMT

Lockheed Martin

$337.65

-0.13 (-0.04%)

17:12
09/24/18
09/24
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Lockheed Martin awarded $289.2M U.S. Army contract »

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  • 30

    Oct

EME

EMCOR

$75.06

0.04 (0.05%)

17:11
09/24/18
09/24
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17:11
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EMCOR among bidders for $475M U.S. Army contract »

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GEMP

Gemphire Therapeutics

$2.32

-0.035 (-1.49%)

17:08
09/24/18
09/24
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17:08
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Gemphire Therapeutics to cut 33% of staff and take a $1.4M related charge »

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LKM

Link Motion

$0.62

-0.0478 (-7.12%)

17:03
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Link Motion receives noncompliance notice from NYSE »

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TSLA

Tesla

$299.61

0.56 (0.19%)

17:03
09/24/18
09/24
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17:03
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Tesla worker says Musk called him into meeting to slam union, Bloomberg says »

Tesla employee Jose Moran…

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