The SPY Slides Ahead Of Big-Tech Earnings Week: This ETF Offers A Diversified Approach To Large-Cap Dividend-Paying Stocks
Portfolio Pulse from Melanie Schaffer
Ahead of a big week of earnings, the SPDR S&P 500 (NYSE:SPY) dropped about 0.6% on Monday. This follows Tesla's double miss on earnings last week, which led to a nearly 10% drop in its stock and a general market slide. The SPY closed under the 200-day simple moving average (SMA) on Friday, indicating a possible bear cycle. Meanwhile, the Innovative Portfolios’ Dividend Performers ETF (NYSE:IPDP), which seeks diversified cash flow through dividends, capital appreciation, and options premiums, is suggested for traders bullish on the stock market.
October 23, 2023 | 3:04 pm
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NEGATIVE IMPACT
The SPDR S&P 500 (NYSE:SPY) dropped about 0.6% on Monday ahead of a big week of earnings. The ETF closed under the 200-day SMA on Friday, indicating a possible bear cycle.
The drop in SPY ahead of a big week of earnings and its closing under the 200-day SMA on Friday indicates a possible bear cycle, which could negatively impact its short-term price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The Innovative Portfolios’ Dividend Performers ETF (NYSE:IPDP) is suggested for traders bullish on the stock market. The ETF seeks diversified cash flow through dividends, capital appreciation, and options premiums.
The suggestion of IPDP for traders bullish on the stock market indicates a positive outlook for the ETF, which could positively impact its short-term price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100