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S&P500: Set Up For Disappointment, And Earnings Won't Help (SP500)
Last week's data calendar was light, and the S&P 500 (SPY) looked set for a quiet mid-summer week of trading. However, Wednesday's escalation in Iran brought some volatility, if only briefly. Stocks shrugged it off and even broke
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Sudden Sentiment Shift Could Favor S&P 500 Bulls
“In the short term we are focusing on potential resistance overhead, ranging from 7,500 to last month's closing high of 7,620… the first levels of support ranging between 7,400 (its rising 50-day moving average) and 7,270, last month’s low.”
Headline risks we are all familiar with emerged last week. President Trump declared the truce with Iran over amid an uptick in bombs and missiles volleyed by both the U.S. and Iran. Plus, Ukraine and Russia continued to trade hostilities, threatening oil supplies and energy-induced inflation. To further complicate matters, an ADR offering for SK Hynix shares attracted institutional interest that may have detracted attention from other U.S.-based equities.
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S&P 500 Sector Breadth Rebound: Why Tech and Consumer Discretionary Still Need Earnings Proof
Sector breadth has finally widened. That helps investors breathe a little easier after months of narrow mega cap leadership. Still, the question hanging over this tape is simple: if Tech and Consumer Discretionary are going to lead the next leg, do they have the earnings to back it up?
June and early July brought better participation and greener screens, but we are heading into the meat of Q2 reporting. Prices got in front of fundamentals. Your task now is sorting what is real from what is reflex.
This guide shows how to read breadth, track revisions, and set a practical earnings plan for Tech and Discretionary so you are not buying vibes, you are buying proof.
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