REUTERS: Stocks rally on trade hopes, dollar has first weekly gain of 2019
NEW YORK (Reuters) - World stock indexes jumped on Friday, with Wall Street posting a fourth straight week of gains, and the dollar had its first positive week since mid-December as optimism increased that an end is in sight to the U.S.-China trade conflict.
SPY in downward trend: price dove below 50-day moving average on September 15, 2023
SPY moved below its 50-day moving average on September 15, 2023 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 .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 13, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on SPY as a result. In of 66 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 September 18, 2023. 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 51 similar instances when the indicator turned negative. In of the 51 cases the stock turned lower in the days that followed. This puts the odds of success at .
The 10-day moving average for SPY crossed bearishly below the 50-day moving average on September 15, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 12 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over 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 .
The Aroon Indicator for SPY entered a downward trend on August 29, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where SPY's RSI Indicator exited the oversold zone, of 25 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SPY advanced for three days, in of 357 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.
Fundamental Analysis (Ratings)
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category LargeBlend
| 1 Day | |||
|---|---|---|---|
| ETFs / NAME | Price $ | Chg $ | Chg % |
| VNQI | 39.46 | -0.60 | -1.50% |
| Vanguard Global ex-US Real Est ETF | |||
| NBB | 14.68 | -0.27 | -1.81% |
| Nuveen Taxable Municipal Income Fund | |||
| GHTA | 25.57 | -0.49 | -1.88% |
| Goose Hollow Tactical Allocation ETF | |||
| ESGA | 53.77 | -1.20 | -2.18% |
| American Century Sustainable Equity ETF | |||
| NWLG | 21.95 | -0.51 | -2.26% |
| Nuveen Winslow Large-Cap Growth ESG ETF | |||
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% | -1.65% | ||
| IVV - SPY | 100% Closely correlated | -1.64% | ||
| SPLG - SPY | 100% Closely correlated | -1.63% | ||
| SCHX - SPY | 100% Closely correlated | -1.68% | ||
| VOO - SPY | 100% Closely correlated | -1.64% | ||
| ESGU - SPY | 100% Closely correlated | -1.72% | ||
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