A leading gauge of U.S. consumer confidence unexpectedly dropped in December to a four-month low, amid surging coronavirus cases that have recently propelled tighter restrictions in many states.
The Conference Board index fell to 88.6 in December, from a downwardly revised 92.9 in November. That figure is below the 97 expected in a Bloomberg survey of economists. The latest reading reflects survey responses through Dec. 14, and is well below pre-pandemic levels.
The current condition sub-index fell the most since April. However, the expectations sub-index rose from a four-year low.
The Conference Board latest survey results differ from the University of Michigan’s measure of U.S. consumer sentiment that increased in early December to the second-highest level since March.
SPY moved below its 50-day moving average on April 15, 2024 date and that indicates a change from an upward trend to a downward trend. In of 37 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved below the 0 level on April 04, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SPY as a result. In of 64 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for SPY turned negative on April 01, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 49 similar instances when the indicator turned negative. In of the 49 cases the stock turned lower in the days that followed. This puts the odds of success at .
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 .
The RSI Indicator entered the oversold zone -- be on the watch for SPY's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 3 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SPY advanced for three days, in of 361 cases, the price rose further within the following month. The odds of a continued upward trend are .
SPY may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 451 cases where SPY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Category LargeBlend