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SPY

SPDR S&P 500 ETF Trust

$279.60

0.33 (0.12%)

, SPX

S&P 500

$0.00

(0.00%)

15:47
07/13/18
07/13
15:47
07/13/18
15:47

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

Looking ahead for the week, the S&P 500 (SPX) was very close to breaking out above the 2800 area and it did so on Friday. The last time price was at or above this psychologically important round number, it only managed to trade for a couple of weeks above it before a sharp correction took place. Since then the index has been in a corrective phase that has gone on now for nearly six months. If forthcoming earnings and outlook are sufficiently strong to push the index back above 2800, there are only two resistance levels to note; the 2840 area and then the life high at 2872.87. A breakout in the coming week above the old high would go a long way to calming frayed trader nerves. Equally, if the index fails to break out or does so and falls back under 2800, it will cement that level in traders' minds as major resistance, in all probability to be sold rather than bought. That would put the 2700 area in play as a potential test of support once again. Keep in mind that this particular earnings season is unusually compressed, with the bulk of earnings coming out in a period of just three weeks. If the reports are uniformly bearish or bullish, that may be the easier part. We could see a very volatile set of price swings if there is more differentiation in reports either on the company-specific level or in terms of groups and sectors.

SPY

SPDR S&P 500 ETF Trust

$279.60

0.33 (0.12%)

SPX

S&P 500

$0.00

(0.00%)

SPY SPDR S&P 500 ETF Trust
$279.60

0.33 (0.12%)

07/09/18
MSCO
07/09/18
NO CHANGE
MSCO
Morgan Stanley suggests getting more defensive, downgrades Tech to underweight
Morgan Stanley equity strategist Michael Wilson believes the S&P 500 could trade to 2,800-2,825 in the "very near-term," but is recommending investors use such a move higher to reduce portfolio beta and risk as he continues to expect an "aggressive rotation" toward defensive sectors at some point. Given his view of a growing probability for sustained defensive leadership, Wilson downgraded Small caps to equal weight and Technology to underweight. He also upgraded Consumer Staples and Telecom Services to equal weight from underweight.
04/02/18
MSCO
04/02/18
NO CHANGE
MSCO
Utilities view lowered to Equal Weight at Morgan Stanley
Morgan Stanley equity strategist Michael Wilson said he thinks many of the risks facing the market have now been priced in and he sees value in the S&P, which is currently at the low end of his target near-term range ahead of what will likely be a strong Q1 earnings season. However, he is moving the Utilities sector to Equal Weight from Overweight, stating that this is not a sell call for those who recently bought the stocks but that a tactical overweight after recent relative outperformance no longer makes sense.
12/11/17
OPCO
12/11/17
NO CHANGE
OPCO
Oppenheimer initiates S&P 500 price target of $3,000 in 2018 on outlook
Oppenheimer has initiated an S&P 500 price target of $3,000 in 2018 as it believes the fundamentals - both economic growth and corporate earnings - will likely improve further in 2018. Its price target and earnings estimate do not include any assumptions about what tax reform might ultimately look like.
SPX S&P 500
$0.00

(0.00%)

01/23/18
BOFA
01/23/18
NO CHANGE
BOFA
S&P 500 2018 year target raised to 3,000 from 2,800 at BofA/Merrill

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Novartis

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Honeywell

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CP

Canadian Pacific

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DWDP

DowDuPont

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VLP

Valero Energy Partners

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IVZ

Invesco

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0.32 (1.53%)

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LOGC

LogicBio Therapeutics

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Syndicate
LogicBio Therapeutics 7M share IPO priced at $10.00 »

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MDSO

Medidata

$70.91

1.54 (2.22%)

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Medidata analyst commentary  »

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TSLA

Tesla

$263.85

-8.09 (-2.97%)

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Tesla rolls out new Model 3 with 'mid-range' battery pack, Electrek reports »

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SKX

Skechers

$26.05

-0.64 (-2.40%)

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PayPal

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-2.61 (-3.26%)

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Fly Intel: After Hours Movers »

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PYPL

PayPal

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CE

Celanese

$97.01

-2.76 (-2.77%)

CP

Canadian Pacific

$199.27

-6.68 (-3.24%)

ISRG

Intuitive Surgical

$522.41

-20.44 (-3.77%)

AXP

American Express

$102.86

-1.53 (-1.47%)

ETFC

E-Trade

$48.89

-1.68 (-3.32%)

VLP

Valero Energy Partners

$39.94

0.5 (1.27%)

VLO

Valero

$103.31

-0.36 (-0.35%)

FBC

Flagstar Bancorp

$29.26

-0.33 (-1.12%)

OZK

Bank OZK

$34.85

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LLNW

Limelight Networks

$5.07

0.12 (2.42%)

TEAM

Atlassian

$81.96

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AIG

AIG

$48.62

-0.99 (-2.00%)

SREV

ServiceSource

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X

U.S. Steel

$27.91

-0.27 (-0.96%)

, AKS

AK Steel

$4.69

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U.S. Steel

$27.91

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AKS

AK Steel

$4.69

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NUE

Nucor

$58.26

-0.85 (-1.44%)

STLD

Steel Dynamics

$41.32

0.77 (1.90%)

AA

Alcoa

$38.85

2.14 (5.83%)

CENX

Century Aluminum

$9.91

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RLH

Red Lion Hotels

$12.62

-0.42 (-3.22%)

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Red Lion Hotels CFO Douglas Ludwig resigns due to personal health reasons »

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IDA

IDACORP

$96.78

0.035 (0.04%)

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IDACORP declares quarterly dividend of 63c per share »

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KRYS

Krystal Biotech

$20.70

-0.59 (-2.77%)

18:08
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Syndicate
Krystal Biotech 3M share Secondary priced at $20.00 per share »

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FBC

Flagstar Bancorp

$29.26

-0.33 (-1.12%)

, SVU

Supervalu

$32.49

0.02 (0.06%)

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S&P announces changes to S&P SmallCap 600 index »

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FBC

Flagstar Bancorp

$29.26

-0.33 (-1.12%)

SVU

Supervalu

$32.49

0.02 (0.06%)

UNFI

United Natural Foods

$26.94

0.2 (0.75%)

TTGT

TechTarget

$19.53

-0.35 (-1.76%)

PERY

Perry Ellis

$27.48

0.02 (0.07%)

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SXT

Sensient

$76.67

-1.15 (-1.48%)

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Sensient raises quarterly dividend to 36c from 33c per share »

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DWDP

DowDuPont

$58.60

-0.98 (-1.64%)

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NOG

Northern Oil and Gas

$3.54

-0.13 (-3.54%)

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SHPG

Shire

$176.90

-0.4 (-0.23%)

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FDA advisory committee recommends Shire's Prucalopride for CIC »

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ACN

Accenture

$156.20

-2.76 (-1.74%)

, T

AT&T

$32.50

-0.06 (-0.18%)

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CACI, IBM, Northrop Grumman and more compete for orders on $37.4B Army contract »

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ACN

Accenture

$156.20

-2.76 (-1.74%)

T

AT&T

$32.50

-0.06 (-0.18%)

CACI

CACI

$181.34

-2.07 (-1.13%)

HII

Huntington Ingalls

$233.27

0.15 (0.06%)

CMTL

Comtech

$32.05

-0.95 (-2.88%)

IBM

IBM

$130.52

-3.53 (-2.63%)

JEC

Jacobs Engineering

$73.01

-0.89 (-1.20%)

KFRC

Kforce

$35.15

-0.49 (-1.37%)

LLL

L3 Technologies

$218.17

-1.965 (-0.89%)

LDOS

Leidos

$66.72

-0.97 (-1.43%)

NOC

Northrop Grumman

$308.21

-1.04 (-0.34%)

RTN

Raytheon

$191.62

-1.48 (-0.77%)

KEYW

KEYW

$8.31

-0.27 (-3.15%)

VSEC

VSE Corp.

$30.75

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UBSFY

Ubisoft

$0.00

(0.00%)

, BBY

Best Buy

$72.63

-1.2 (-1.63%)

17:31
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Periodicals
Certain boxes of new Ubisoft game from Best Buy didn't include game, Kotaku says »

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UBSFY

Ubisoft

$0.00

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BBY

Best Buy

$72.63

-1.2 (-1.63%)

NTDOY

Nintendo

$0.00

(0.00%)

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AXP

American Express

$102.86

-1.53 (-1.47%)

17:28
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Hot Stocks
American Express says revenue growth 'directly' linked to company decisions »

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WAL

Western Alliance

$53.53

-0.97 (-1.78%)

17:24
10/18/18
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17:24
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17:24
Earnings
Western Alliance reports Q3 EPS $1.05, consensus $1.03 »

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AMZN

Amazon.com

$1,771.45

-61.36 (-3.35%)

17:23
10/18/18
10/18
17:23
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17:23
Periodicals
Amazon plans to open Manchester office, add 1,000 U.K. jobs, Reuters says »

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AXP

American Express

$102.86

-1.53 (-1.47%)

17:21
10/18/18
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17:21
Hot Stocks
American Express says growth has been diverse »

Says had double digit…

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