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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

XERS

Xeris Pharmaceuticals

$0.00

(0.00%)

10:00
06/21/18
06/21
10:00
06/21/18
10:00
Syndicate
Breaking Syndicate news story on Xeris Pharmaceuticals »

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  • 21

    Jun

EDN

Edenor

$45.05

4.54 (11.21%)

10:00
06/21/18
06/21
10:00
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10:00
Hot Stocks
Edenor rises 13.3% »

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BNED

Barnes & Noble Education

$7.69

0.91 (13.42%)

10:00
06/21/18
06/21
10:00
06/21/18
10:00
Hot Stocks
Barnes & Noble Education rises 13.4% »

Barnes & Noble…

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Z

Zillow

$64.53

-0.14 (-0.22%)

10:00
06/21/18
06/21
10:00
06/21/18
10:00
Options
Zillow puts active »

Zillow puts active.…

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SUPV

Grupo Supervielle

$15.72

2.03 (14.83%)

10:00
06/21/18
06/21
10:00
06/21/18
10:00
Hot Stocks
Grupo Supervielle rises 14.9% »

Grupo Supervielle is up…

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XERS

Xeris Pharmaceuticals

$0.00

(0.00%)

09:58
06/21/18
06/21
09:58
06/21/18
09:58
Syndicate
Xeris Pharmaceuticals indicated to open at $15.75 »

Xeris Pharmaceuticals…

03/08/13
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  • 21

    Jun

DRI

Darden

$102.00

8.73 (9.36%)

, KR

Kroger

$29.44

3.23 (12.32%)

09:55
06/21/18
06/21
09:55
06/21/18
09:55
Options
Early notable gainers among liquid option names on June 21st »

Notable gainers among…

DRI

Darden

$102.00

8.73 (9.36%)

KR

Kroger

$29.44

3.23 (12.32%)

PDCO

Patterson Companies

$24.43

1.89 (8.39%)

LRCX

Lam Research

$179.00

4.53 (2.60%)

JWN

Nordstrom

$52.65

0.81 (1.56%)

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

    Jun

  • 21

    Jun

  • 21

    Jun

  • 28

    Jun

  • 10

    Jul

PCG

PG&E

$39.82

-0.18 (-0.45%)

09:55
06/21/18
06/21
09:55
06/21/18
09:55
Conference/Events
PG&E to host investor conference call »

Conference call to…

03/08/13
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  • 21

    Jun

  • 26

    Jun

EPRT

Essential Properties Realty Trust

$0.00

(0.00%)

09:54
06/21/18
06/21
09:54
06/21/18
09:54
Syndicate
Essential Properties Realty Trust indicated to open at $13.25-$13.75 »

Essential Properties…

03/08/13
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03/06/13
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  • 21

    Jun

IBN

ICICI Bank

$8.75

0.05 (0.57%)

09:51
06/21/18
06/21
09:51
06/21/18
09:51
Downgrade
ICICI Bank rating change  »

ICICI Bank downgraded to…

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09:50
06/21/18
06/21
09:50
06/21/18
09:50
Hot Stocks
Breaking Hot Stocks news story  »

Gores Holdings II Inc…

JPM

JPMorgan

$107.35

-0.21 (-0.20%)

09:50
06/21/18
06/21
09:50
06/21/18
09:50
Options
1.2K JP Morgan Jul 27th 100 - 105 put spreads bought for $1.15 »

1.2K JP Morgan Jul 27th…

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  • 13

    Jul

  • 12

    Oct

GSHT

Gores Holdings

$10.08

(0.00%)

09:50
06/21/18
06/21
09:50
06/21/18
09:50
Hot Stocks
Breaking Hot Stocks news story on Gores Holdings »

Gores Holdings II Inc…

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09:50
06/21/18
06/21
09:50
06/21/18
09:50
General news
U.S. leading indicators preview: »

U.S. leading indicators…

CURO

Curo Group

$22.50

(0.00%)

09:48
06/21/18
06/21
09:48
06/21/18
09:48
Recommendations
Curo Group analyst commentary  »

Curo Group named 2018…

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LUV

Southwest

$51.85

-0.14 (-0.27%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Rumors
Rumor moving shares of Southwest »

Rumor: Southwest active…

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  • 26

    Jul

GKOS

Glaukos

$41.92

-2.61 (-5.86%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Hot Stocks
Glaukos falls -6.0% »

Glaukos is down -6.0%, or…

03/08/13
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03/06/13
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CHGG

Chegg

$27.80

-1.62 (-5.51%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Hot Stocks
Chegg falls -5.5% »

Chegg is down -5.5%, or…

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  • 21

    Jun

MEI

Methode Electronics

$45.40

(0.00%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Hot Stocks
Methode Electronics falls -7.1% »

Methode Electronics is…

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  • 21

    Jun

TEO

Telecom Argentina

$20.81

(0.00%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Hot Stocks
Telecom Argentina rises 10.6% »

Telecom Argentina is up…

03/08/13
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SUPV

Grupo Supervielle

$15.14

1.45 (10.59%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Hot Stocks
Grupo Supervielle rises 11.7% »

Grupo Supervielle is up…

03/08/13
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BMA

Banco Macro

$73.54

8.22 (12.58%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Hot Stocks
Banco Macro rises 12.7% »

Banco Macro is up 12.7%,…

03/08/13
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09:45
06/21/18
06/21
09:45
06/21/18
09:45
General news
Minneapolis Fed dove Kashkari sees no signs of overheating »

Minneapolis Fed dove…

09:45
06/21/18
06/21
09:45
06/21/18
09:45
General news
Leading Indicators to be reported at 10:00 »

May Leading Indicators…

WDC

Western Digital

$80.17

(0.00%)

09:43
06/21/18
06/21
09:43
06/21/18
09:43
Technical Analysis
Technical Take: Western Digital moves higher, levels to watch »

The stock is…

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