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Vitalii Liubimov's Avatar
published in Blogs
May 04, 2023

After the US Federal Reserve press conference, the indices continued to decline (SPY $408.02, -0.71%).

Our robots are reducing risks by opening shorts, but they mostly maintain many long positions. In case of further decline, the robots will begin to cut losses on long positions and increase short positions, as the risk of correction intensifies. It is evident that the Fed has reached the peak of interest rates, but since it has constantly been wrong in its inflation forecasts, it wants to make sure that inflation will decrease before announcing the end of the rate hike cycle.The markets are no longer expecting further rate hikes from the Fed, but it is clear that economic reports will now be in the spotlight and reactions to them will be strong.

Below are the key statements from the US Federal Reserve's latest meeting of the Federal Open Market Committee held in May 2023:

The Fed expects moderate economic growth in the US in the near future, despite a recent decline in inflation expectations.

The regulator acknowledges that the tightening of monetary policy had a stronger impact on the banking system than expected, but emphasizes that it was necessary to address the growing debt burden and stabilize the economy.

The Fed chief asserts that raising the debt ceiling is necessary to ensure financial stability in the US and urges lawmakers to take action.

The Fed intends to continue to lower inflation and bring it to the target level of 2%.

The US banking system remains reliable and resilient, and the regulator will continue to monitor its condition.

The labor market remains strong despite a slowdown in employment growth.

The US economy continues to grow, but some sectors are under pressure due to the tightening of monetary policy.

The Fed will continue to monitor economic indicators and take necessary measures to support financial system stability.

A decision to raise interest rates was not made, but the Fed does not rule out such a possibility in the future.

The regulator plans to maintain its restrictive policy to lower inflation, but will also consider changes in the economic situation and global conditions.

Related Ticker: SPY

SPY in upward trend: 10-day moving average crossed above 50-day moving average on May 13, 2024

The 10-day moving average for SPY crossed bullishly above the 50-day moving average on May 13, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 13 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on May 02, 2024. You may want to consider a long position or call options on SPY as a result. In of 64 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for SPY just turned positive on May 03, 2024. Looking at past instances where SPY's MACD turned positive, the stock continued to rise in of 52 cases over the following month. The odds of a continued upward trend are .

SPY moved above its 50-day moving average on May 03, 2024 date and that indicates a change from a downward trend to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SPY advanced for three days, in of 356 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 471 cases where SPY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day RSI Indicator for SPY moved out of overbought territory on May 23, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 47 similar instances where the indicator moved out of overbought territory. In of the 47 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 67 cases where SPY's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where SPY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

SPY broke above its upper Bollinger Band on May 06, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

Notable companies

The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Apple (NASDAQ:AAPL), NVIDIA Corp (NASDAQ:NVDA), Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL), Amazon.com (NASDAQ:AMZN), Meta Platforms (NASDAQ:META), Eli Lilly & Co (NYSE:LLY), Broadcom (NASDAQ:AVGO), VISA (NYSE:V).

Industry description

The investment seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500® Index. The Trust seeks to achieve its investment objective by holding a portfolio of the common stocks that are included in the index (the “Portfolio”), with the weight of each stock in the Portfolio substantially corresponding to the weight of such stock in the index.

Market Cap

The average market capitalization across the SPDR® S&P 500 ETF Trust ETF is 126.12B. The market cap for tickers in the group ranges from 7.09B to 3.15T. MSFT holds the highest valuation in this group at 3.15T. The lowest valued company is ETSY at 7.09B.

High and low price notable news

The average weekly price growth across all stocks in the SPDR® S&P 500 ETF Trust ETF was -0%. For the same ETF, the average monthly price growth was 5%, and the average quarterly price growth was 17%. FSLR experienced the highest price growth at 40%, while NDSN experienced the biggest fall at -12%.

Volume

The average weekly volume growth across all stocks in the SPDR® S&P 500 ETF Trust ETF was -14%. For the same stocks of the ETF, the average monthly volume growth was -32% and the average quarterly volume growth was 83%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 60
P/E Growth Rating: 50
Price Growth Rating: 40
SMR Rating: 50
Profit Risk Rating: 45
Seasonality Score: 11 (-100 ... +100)
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