2019-11-15 15:38:42 | On The Fly: Weekly technical notes for S&P 500At time of writing the S&P 500 (SPX) is set to close at a fresh life high, with price last at 3116. Of fifteen major strategists, that leaves only Tom Lee of Fundstrat's target of 3185 as yet to be met. All the rest have been surpassed as of today. For the coming week the potential upside range is at 3125-3150. Support is at 3100-3075. Many sectors broke out this week, as one would expect at a new index high. The best-performing sectors for the week were Basic Materials (XLB), Health Care (XLV), Technology (XLK), and Consumer Discretionary (XLY). Energy (XLE) was the worst performer. |
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