S&P 500

  • SPX

  • $5,902

  • +0.70%

  • $5,818

  • $5,958

  • $5,809

Ticker Appearances

Mon, December 9, 2024 | 11:23AM ET

⚡ FlashInsights

Mon, December 9, 2024 | 11:23AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Today's early weakness is reaching multi-day lows for the first time since early November though market breadth today is positive by 3/2 as seven sectors are positive out of 11, with Materials and Healthcare up more than 1%. The decline in big-cap Tech however is what many investors are concentrating on and FI 1.87%  AMD 0.30%  PANW -1.35%  NVDA 2.96%  PLTR 7.76%  are all down more than -2.75%. An end of day finish at multi-day lows, particularly if breadth gets worse would make the case for a mild selloff which might last into FOMC but one which should provide buying opportunities. Oddly enough, today's positive breadth on negative SPX price action is nearly the opposite of what happened all last week when prices rose while breadth was negative. Initial support levels for ^SPX 0.70%  lie near 6042, then 6017
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Wed, December 4, 2024 | 11:38AM ET

⚡ FlashInsights

Wed, December 4, 2024 | 11:38AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Third straight day of muted to negative breadth despite QQQ surging another 1% on big-cap Tech strength while 9 of 11 sectors are down. Notable that the breadth bounce we saw in late Nov is now facing challenges this week, though the AAPL 2.02%  breakout and NVDA bounce are important and powerful forces within ^SPX 0.70%  - While the sliding VIX despite cross-asset volatility could be seen as complacent to some, and they're not wrong... when HIGH PERCENTAGE SPX names like AAPL breakout that represent 7% of SPX and 12% of QQQ, you pay attention
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Tue, December 3, 2024 | 11:40AM ET

⚡ FlashInsights

Tue, December 3, 2024 | 11:40AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
A rather lackluster first few hours of trading today, ^SPX 0.70%  has backed off since the Open, but yet holding the area which marks the minor uptrend from mid-November. As can be seen, until 6025 is breached, price lies above the swing high from 11/26 as well as Nov 11th at 6017. it will be important in the next couple days to see if a push to new highs is not accompanied by broader-based follow-through. For today, Only Industrials and Discretionary are lower by more than -0.75%, but 8 sectors are down with just fractional gains out of Comm Svcs, energy and Utilities. Minor bounce out of Crude oil, Treasury yields, and bounce out of Precious Metals and Copper, but Equity movement is a Non-event thus far.
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