A group of U.S. senators want to tax financial transactions -- a move they argue will generate billions of dollars in revenue and reduce the risk of another financial crisis. Sen. Brian Schatz (D-Hawaii) introduced the Wall Street Tax Act while Rep. Peter DeFazio (D-OR) introduced legislation in the House.
Sen. Kristen Gillibrand (D-NY), a 2020 presidential contender, Rep. Alexandria Ocasio Cortez (D-NY), and other progressive lawmakers have signed on as co-sponsors. The plan would tax the sale of stocks, bonds and derivatives at 0.1%. “Over the last decade, Wall Street has made record profits from high-risk trades that have made the market dangerously volatile, while doing nothing to add real value to our economy or raise wages for workers,” said Schatz. “My bill will help discourage this kind of risky, volume-based trading and bring in billions in new revenue.”
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where SPY declined for three days, in of 245 cases, the price declined further within the following month. The odds of a continued downward trend are .
The 10-day RSI Indicator for SPY moved out of overbought territory on October 15, 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 49 similar instances where the indicator moved out of overbought territory. In of the 49 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on October 30, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SPY as a result. In of 65 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 October 23, 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 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 Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable 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 372 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 452 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