The number of Americans filing for unemployment benefits unexpectedly fell last week. The numbers suggest labor market conditions remain solid, despite slowing job growth.
Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 211,000 for the week ended March 23, the Labor Department said. Data for the prior week were revised to show 5,000 fewer applications received than previously reported. The unemployment rate is currently at 3.8%. The moderation in job growth also reflecting a shortage of workers and softening economic growth as the stimulus from a $1.5 trillion tax cut package fades.
SPY saw its Momentum Indicator move above the 0 level on February 10, 2025. 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 70 similar instances where the indicator turned positive. In of the 70 cases, the stock moved higher in the following days. The odds of a move higher are at .
The Moving Average Convergence Divergence (MACD) for SPY just turned positive on February 13, 2025. Looking at past instances where SPY's MACD turned positive, the stock continued to rise in of 51 cases over the following month. The odds of a continued upward trend are .
SPY moved above its 50-day moving average on January 17, 2025 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for SPY crossed bullishly above the 50-day moving average on January 27, 2025. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher 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 362 cases, the price rose further within the following month. The odds of a continued upward trend are .
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 February 13, 2025. 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.
The Aroon Indicator for SPY entered a downward trend on January 21, 2025. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Category LargeBlend