Fed slashes rate by 100bps to 0%-0.25%
The Federal Reserve on Sunday slashed the Fed’s funds rate by an additional -100 bps to combat economic risks from Coronavirus crisis.
On Sunday, the Fed lowered its policy rate by 100 bps on Sunday to a range of 0% to 0.25%, which is the record low last seen during the global financial crisis in 2008. This is the second time this month that the central bank has cut rates; on March 3, there was a -50 bps cut.
The Fed also announced its plan to purchase atleast $700 billion of assets (including new bond and mortgage-backed securities) over the coming months, starting Monday.
On Monday, there was a 15-minute halt on trading placed after markets opened to steep plunges. stocks plunged after being halted from trading soon after markets opened.
Momentum Indicator for SPY turns positive, indicating new upward trend
SPY saw its Momentum Indicator move above the 0 level on May 25, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 67 similar instances where the indicator turned positive. In of the 67 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for SPY just turned positive on May 26, 2023. Looking at past instances where SPY's MACD turned positive, the stock continued to rise in of 49 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SPY advanced for three days, in of 360 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 442 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 Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
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 June 02, 2023. 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)
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category LargeBlend
SPY and
Correlation & Price change
A.I.dvisor indicates that over the last year, SPY has been closely correlated with IVV. These tickers have moved in lockstep 100% of the time. This A.I.-generated data suggests there is a high statistical probability that if SPY jumps, then IVV could also see price increases.
| Ticker / NAME | Correlation To SPY | 1D Price Change % | ||
|---|---|---|---|---|
| SPY | 100% | -0.19% | ||
| IVV - SPY | 100% Closely correlated | -0.17% | ||
| SPLG - SPY | 100% Closely correlated | -0.20% | ||
| VOO - SPY | 100% Closely correlated | -0.19% | ||
| SPTM - SPY | 100% Closely correlated | -0.19% | ||
| SCHX - SPY | 100% Closely correlated | -0.18% | ||
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