| 2020-08-07 15:56:23|
XLY, XLB… 15:56 08/07 08/07/20
On The Fly: Weekly technical notes for S&P 500
The S&P 500 (SPX) is set to end near the highs of the week and higher against last Friday's close. At the last price of 3351, resistance for the coming week will be in the range of 3375-3400. The upper objective would exceed the life high. Support will likely be in the range of 3340-3280. The best sectors of the week were Consumer Discretionary (XLY), Basic Materials (XLB), Energy (XLE), and the Industrials (XLI). The weakest sectors were the Financials (XLF), Consumer Staples (XLP), Health Care (XLV), and Utilities (XLU). The latter was the only one to finish the week in the red.