JP Morgan expects S&P500 to reach 4,700 by year-end
JPMorgan predicts that the S&P 500 will reach 4,700 by year-end. That would imply a +5% gain from the recent level of 4,481.
“We remain positive on the equity outlook, and expect S&P 500 to reach 4,700 by end of this year and surpass 5,000 next year on better-than-expected earnings,” JPMorgan strategist Dubravko Lakos-Bujas wrote in a commentary.
Despite concerns about the recent slowing in economic and business cycle momentum, Lakos-Bujas remains confident that strong growth lies ahead and “activity is bound to reaccelerate”.
SPY's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for SPY 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 .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 25, 2023. You may want to consider a long position or call options on SPY as a result. In of 67 past instances where the momentum indicator moved above 0, the stock continued to climb. 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 361 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 425 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 has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
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 18, 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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High and low price notable news
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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% | -0.55% | ||
| IVV - SPY | 100% Closely correlated | -0.62% | ||
| SPLG - SPY | 100% Closely correlated | -0.51% | ||
| VOO - SPY | 100% Closely correlated | -0.54% | ||
| SPTM - SPY | 100% Closely correlated | -0.62% | ||
| SCHX - SPY | 100% Closely correlated | -0.54% | ||
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