ChartArt
Short

S&P 500 profit taking during earnings risk-off sentiment

FX:SPX500   S&P 500 index of US listed shares
345 1 9
4 months ago
The S&P 500             could decline in the next days after the German DAX             failed to hold its key 10000 point level (after the important German investor sentiment index ZEW fell sharply this week). And if US investors don't care about the chaos in Europe, there is still the possibility of increasing risk-off sentiment during the black-out period of buybacks during the current release of company earnings data.


Scenario A "fast brief dip":
  • Short entry: 2170
  • Short target:2125

Scenario B: "bearish deep decline"
  • Short entry: 2159
  • Short target:2087
4 months ago
Comment: UPDATE: 12 days later after publishing the chart.

It is truly stunning how strongly the S&P 500 has been stemming itself against the downtrend of the largest company stocks (by market cap) in the US (and the world). Using the new Tradingview screener function here is an overview when the largest company stocks peaked in July 2016, while the S&P 500 index kept on going sideways in July without a similar sized pullback:

Exxon (US), peaked July 15:
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Berkshire (US), peaked July 19
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Amazon (US), peaked July 12
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Johnson & Johnson (US), peaked July 20
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GE (US), peaked July 20
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AT&T (US), peaked July 5
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Wells Fargo (US), peaked July 14
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JP Morgan (US), peaked July 14
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Wall Mart (US), peaked July 11
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Verizon (US), peaked July 5
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Procter & Gamble (US), peaked July 14
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Pfizer (US), peaked July 15
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Shell (non-US), peaked July 14
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Novartis (non-US), peaked July 22
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Alibaba (non-US), peaked July 21
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Budweiser (non-US), peaked July 1
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Chevron (US), peaked July 14
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Petro China (non-US), peaked July 14
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Coca-Cola (US), peaked July 14
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Visa (US), peaked July 25
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Oracle (US), peaked July 15
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Intel (US), peaked July 20
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Merck (US), peaked July 13
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Disney (US), peaked July 13
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Cisco (US), peaked July 26
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Taiwan Semiconductor (non-US), peaked July 27
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Unilever (non-US), peaked July 1
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UnitedHealth Group (US), peaked July 20
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Altria (US), peaked July 05
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Citigroup (US), peaked July 15
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Brystal Meyers (US), peaked July 15
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Schlumberger (US), peaked July 22
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Gilead (US), peaked July 25
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3M (US), peaked July 20
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McDonalds (US), peaked July 22
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Kraft Heinz (US), peaked July 8
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CVS (US), peaked July 14
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