S&P 500 Breaches 200-Day Average As Treasury Yields Hit 5%: Analyst Says The Primary Trend Is 'Down'
Portfolio Pulse from Piero Cingari
The S&P 500 index has breached the 200-day moving average, indicating a bearish trend. The index fell below the 4,200-point threshold, with Treasury yields hitting 5%. Tesla, Amazon, Apple, and Berkshire Hathaway have been the biggest negative contributors to the SPY ETF's performance. The SPY ETF is hovering around a critical support level at $418, which could potentially serve as a stabilization point.
October 23, 2023 | 3:13 pm
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NEGATIVE IMPACT
Apple has been one of the biggest negative contributors to the SPY ETF's performance in the last month.
Apple's performance has a direct impact on the SPY ETF as it is one of the top American companies by market capitalization. The company's negative performance in the last month has contributed to the ETF's decline.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 75
NEGATIVE IMPACT
Amazon has been one of the biggest negative contributors to the SPY ETF's performance in the last month.
Amazon's performance has a direct impact on the SPY ETF as it is one of the top American companies by market capitalization. The company's negative performance in the last month has contributed to the ETF's decline.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 75
NEGATIVE IMPACT
Berkshire Hathaway has been one of the biggest negative contributors to the SPY ETF's performance in the last month.
Berkshire Hathaway's performance has a direct impact on the SPY ETF as it is one of the top American companies by market capitalization. The company's negative performance in the last month has contributed to the ETF's decline.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 75
NEGATIVE IMPACT
The SPY ETF, which tracks the S&P 500, has seen a negative impact due to the bearish trend in the market. It is currently hovering around a critical support level at $418.
The bearish trend in the market, indicated by the S&P 500 breaching the 200-day moving average, has a direct impact on the SPY ETF as it tracks the S&P 500. The ETF is currently at a critical support level, which could potentially serve as a stabilization point.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Tesla has been one of the biggest negative contributors to the SPY ETF's performance in the last month.
Tesla's performance has a direct impact on the SPY ETF as it is one of the top American companies by market capitalization. The company's negative performance in the last month has contributed to the ETF's decline.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 75