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Stock Market & Financial Investment News

News Breaks
August 1, 2014
05:54 EDTWFC, SPYStocks with implied volatility movement; SPY WFC
Stocks with implied volatility movement; Standard and Poor's Depository Receipts (SPY) 15, Wells Fargo (WFC) 16 according to iVolatility.
News For SPY;WFC From The Last 14 Days
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January 31, 2016
20:43 EDTWFCOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
12:33 EDTWFCU.S. banks could return 20% or more, Barron's says
The banking sector looks like "one of the best bargains in the market," Barron's contends in a cover story. Names such as Citi (C), JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), BB&T (BBT), PNC Financial (PNC), SunTrust (STI) and U.S. Bancorp (USB) are showing healthy balance sheets and could offer "at least" 20% upside, the publication argues, adding that the industry's exposure to the energy sector "looks manageable" given information offered in recent earnings reports and conference calls. Reference Link
January 29, 2016
12:41 EDTSPYOn The Fly: Weekly technical notes for S&P 500
The S&P 500 index traded within a much narrower range in the past week, and appears at time of writing to be set to close near the highs of the week above 1916. That is somewhat remarkable given the relatively high number of blow-ups in major names. Much of the gain is due to the better performance of Energy (XLE), Consumer Staples (XLP), and Utilities (XLU) over the week and the relative stabilization of other sectors to at least not subtract from those advances. We should note that these are typically the sectors that are risk-averse and that their leadership may not be bullish overall. The key concern now is, "can energy continue to outperform?" Many would likely welcome a break in the correlation between crude and the index, but that isn't likely to go away. A breakdown next week in crude could undo most of the gains we've seen as well as potentially induce another round of selling from oil-dependent sovereigns. A perceived positive that the bulls received overnight was the extreme action taken by the Bank of Japan to set a negative interest rate policy in a bid to stimulate the economy and lower its currency further. Many have taken this action as a confirmation along with weak GDP data that the U.S. Fed is likely not to raise rates for the entire year. A chorus of "ZeroB4One", that the Fed will relent and ease along with the rest of the world, is buoying bullish sentiment. While on balance in the near-term this looks favorable, there is plenty that can go wrong. Notably, although GDP was weak, regional data reports appear to be improving. The economy continuing to strengthen, which ought to provide the best hope for higher stock prices, may be the enemy of the bulls from a perceived policy perspective. Bad news used to be good news, but it's possible that good news could become bad news. That oxymoron is our context heading into next week as earnings season winds down by February 10. On a technical basis a key factor to watch is the continuing decline in price in the ProShares Short High Yield (SJB) ETF. It worked well this week as an indicator that was bullish, falling in price, through the entire week even while index prices searched for a floor that at times seemed much lower. The 1-month chart for the S&P 500 (SPX) itself shows the start of a rounding bottom, and possibly a somewhat irregular bullish head and shoulders pattern. The next important level up for both factors would be at the 1934 area. For support, the 1895 area looks to be the level that has to hold.
11:28 EDTSPYOn The Fly: ETF fund flow highlights
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10:36 EDTSPYActive puts @ CBOE: IWM VMW NEM SPY XRT AAPL
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09:53 EDTSPYS&P 500 nears highs of the week, levels to watch
The index was last at 1913.04, heading for a test of the high of the week at 1916.96 which is current resistance. Support is at 1900.33.
08:45 EDTSPYSPDR S&P 500 ETF Trust: Pivot points
The following are the pivot points for SPY. Pivot High: $189.655, Pivot Low: $186.615. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
January 28, 2016
18:19 EDTWFCBank of America, Wells Fargo to integrate Apple Pay in ATMs, TechCrunch says
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10:40 EDTSPYS&P 500 turns negative on the day, levels to watch
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09:40 EDTSPYS&P 500 levels to watch
The index is meeting resistance near the 1902 area, last at 1898.80. At that price next resistance is at 1902 and then at 1910.26. Support is at 1892.11.
08:45 EDTSPYSPDR S&P 500 ETF Trust: Pivot points
The following are the pivot points for SPY. Pivot High: $189.845, Pivot Low: $185.345. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
January 27, 2016
15:07 EDTSPYS&P 500 hits session lows in last hour of trading
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11:51 EDTSPYS&P 500 spikes into the green at mid-session
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10:15 EDTSPYActive puts: SPY MTG X VMW AAPL XME
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10:10 EDTSPYActive calls: XOM AAPL SPY BAC UUP
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08:45 EDTSPYSPDR S&P 500 ETF Trust: Pivot points
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January 26, 2016
16:26 EDTWFCWells Fargo rises in extended session after boosting buybacks
Shares are up over 1.2% to $48.84. At that price next resistance is at $49.46. Support is at $48.26, the closing price of the session.
16:23 EDTWFCWells Fargo increases common stock repurchase authority by 350M shares
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09:54 EDTSPYS&P 500 rallies, levels to watch
The index is seeing a reversal of prior day conditions, with all sectors in the green. Energy (XLE) and Materials (XLB) are the relative upside leaders. At the current price of 1884.81, next resistance is at the 1892.19. Support is at the prior day close at 1878.79.
08:45 EDTSPYSPDR S&P 500 ETF Trust: Pivot points
The following are the pivot points for SPY. Pivot High: $188.895, Pivot Low: $186.155. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
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