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SPY

SPDR S&P 500 ETF Trust

$275.68

-3.32 (-1.19%)

, SPX

S&P 500

$0.00

(0.00%)

14:45
05/31/19
05/31
14:45
05/31/19
14:45

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

At time of writing the S&P 500 (SPX) is set to end at the lows of a holiday-shortened week. At the last price of 2754, price was near a key support at the 2750 level. For the coming week, the 2720-2700 area is the next big level of support. The bearish head and shoulders top mentioned in last week's note remains active. The rough measure of that pattern, if it completed, would be to the 2650 area. To a large degree this big drop in price is related to much more severe turmoil in bond markets, where the US 10-year has hit new recent lows. One clue to there being a more constructive environment for stocks would be to see the big bond bid end and yields once again rise. A move above 2800 would be required to see the bearish pattern become inactive.

SPY

SPDR S&P 500 ETF Trust

$275.68

-3.32 (-1.19%)

SPX

S&P 500

$0.00

(0.00%)

SPY SPDR S&P 500 ETF Trust
$275.68

-3.32 (-1.19%)

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.
12/06/18
DBAB
12/06/18
NO CHANGE
DBAB
Deutsche lowers probability of U.S., China trade deal after Huawei CFO arrest
Following reports that the CFO of Huawei was detained in Canada on December 1 due to an U.S. extradition request over Iran sanctions, Deutsche Bank analyst Zhiwei Zhang lowered his probability of the U.S. and China reaching a trade deal by March 1 to 30% from 40%. The arrest is a "clear signal that the trade war is escalating to a new level," Zhang tells investors in a research note partially titled "Huawei case is a big deal." U.S. business interests in China "face higher risk than before," says the analyst. He points out that Huawei has been widely recognized as one of the most successful technology companies in China.
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TODAY'S FREE FLY STORIES

EGFEY

EFG Eurobank

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National Bank of Greece

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NGG

National Grid

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0.635 (1.22%)

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TEL

TE Connectivity

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ST

Sensata

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APH

Amphenol

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SAP

SAP

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  • 09

    Jul

E

Eni SpA

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-0.1 (-0.32%)

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EQNR

Equinor

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-0.06 (-0.31%)

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  • 25

    Jul

ROYMY

Royal Mail

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(0.00%)

05:07
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DOW

Dow Inc.

$51.12

-1.77 (-3.35%)

05:05
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NRDBY

Nordea Bank

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KMI

Kinder Morgan

$20.53

(0.00%)

05:03
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SYMC

Symantec

$19.36

-0.22 (-1.12%)

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OGE

OGE Energy

$43.42

0.17 (0.39%)

04:56
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OGE Energy initiated  »

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NVTA

Invitae

$19.20

-0.43 (-2.19%)

04:55
06/17/19
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Invitae participates in a conference call with JPMorgan »

Life Science Tools &…

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  • 17

    Jun

  • 06

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04:55
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Conference/Events
CLSA India economics & strategy luncheon meeting »

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DL

China Distance Education

$5.41

(0.00%)

04:55
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China Distance Education management to meet with Sidoti »

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  • 17

    Jun

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NTGN

Neon Therapeutics

$4.76

-0.15 (-3.06%)

04:55
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Neon Therapeutics management to meet with Mizuho »

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  • 17

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IR

Ingersoll-Rand

$124.65

0.31 (0.25%)

04:55
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Ingersoll-Rand management to meet with Stephens »

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  • 17

    Jun

QRTEA

Qurate Retail

$12.83

-0.4 (-3.02%)

04:55
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Qurate Retail management to meet with KeyBanc »

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  • 17

    Jun

  • 20

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04:55
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General news
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TGODF

The Green Organic Dutchman

$0.00

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04:55
06/17/19
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The Green Organic Dutchman Seaport Global »

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  • 17

    Jun

  • 18

    Jun

GNL

Global Net Lease

$19.58

0.13 (0.67%)

04:55
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Conference/Events
Global Net Lease management to meet with B. Riley FBR »

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  • 17

    Jun

ITT

ITT

$62.33

-0.54 (-0.86%)

04:55
06/17/19
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04:55
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ITT management to meet with William Blair »

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  • 17

    Jun

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