US added 467,00 new jobs in January, beating forecasts
The U.S. economy added 467,00 new jobs last month, exceeding expectations.
The Bureau for Labor Statistics data revealed that the figure was well above the Street consensus forecast of 150,000. The data also showed that headline unemployment rate rose to 4.0 percent in January, little changed from December's new pandemic low but slightly higher than market expectations of 3.9 percent.
Hourly wages rose +0.7% during January to $31.63 per hour. Year-over-year, January hourly wages rose +5.7%, beating Street forecasts.
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 444 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 6 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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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% | -0.35% | ||
| IVV - SPY | 100% Closely correlated | -0.33% | ||
| SPLG - SPY | 100% Closely correlated | -0.30% | ||
| VOO - SPY | 100% Closely correlated | -0.33% | ||
| SPTM - SPY | 100% Closely correlated | -0.23% | ||
| SCHX - SPY | 100% Closely correlated | -0.36% | ||
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