Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    StockNews24StockNews24
    Subscribe
    • Shares
    • News
      • Featured Company
      • News Overview
        • Company news
        • Expert Columns
        • Germany
        • USA
        • Price movements
        • Default values
        • Small caps
        • Business
      • News Search
        • Stock News
        • CFD News
        • Foreign exchange news
        • ETF News
        • Money, Career & Lifestyle News
      • Index News
        • DAX News
        • MDAX News
        • TecDAX News
        • Dow Jones News
        • Eurostoxx News
        • NASDAQ News
        • ATX News
        • S&P 500 News
      • Other Topics
        • Private Finance News
        • Commodity News
        • Certificate News
        • Interest rate news
        • SMI News
        • Nikkei 225 News1
    • Carbon Markets
    • Raw materials
    • Funds
    • Bonds
    • Currency
    • Crypto
    • English
      • العربية
      • 简体中文
      • Nederlands
      • English
      • Français
      • Deutsch
      • Italiano
      • Português
      • Русский
      • Español
    StockNews24StockNews24
    Home » S&P 500 hits resistance, BTIG sees potential for a pullback By Investing.com
    Investments

    S&P 500 hits resistance, BTIG sees potential for a pullback By Investing.com

    userBy userJanuary 6, 2025No Comments3 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    BTIG analysts provided insights into the recent stock market movements, observing that the (SPX) has returned to the downtrend line from its all-time highs. After a challenging end to 2024, market bulls have regained some ground, but BTIG cautions that the index might initially retreat from its current position.

    A decisive close above approximately 6025 points could signal a move towards testing the all-time high of around 6100 points, analysts led by Jonathan Krinsky said in a note.

    Conversely, a failure to maintain this level could result in a retest of the previous week’s lows near 5830 points.

    The analysts noted that while the U.S. dollar’s rise has paused, bond markets remain weak, posing a significant risk in case of an uptick in bond yields. The semiconductor sector, represented by the Semiconductor ETF (SMH), is attempting to break out of a recent trading range and fill a price gap left from July of last year.

    However, there is speculation that the upcoming keynote speech by Jensen Huang at the Consumer Electronics Show (CES) could trigger a ‘sell the news’ event.

    In terms of the tech-heavy (QQQ), BTIG points out that it is retesting a previously broken trendline from the August lows and has seemingly broken out of the downtrend from recent highs. Nonetheless, they suggest that if the bears are to make a stand, it would likely be at current levels.

    Small-cap stocks have also returned to a resistance level, with BTIG indicating that a move above approximately 226 points would be a positive development for the segment. Meanwhile, the 30-year real interest rates have reached new cycle highs, approaching the peaks seen in late 2023.

    This rate increase has been a challenge primarily for specific market sectors, but there is concern about how a further rise above 2.60% might affect large-cap stocks. The analysts also observe that the iShares 20+ Year Treasury Bond ETF (NASDAQ:) is moving towards its November 2023 gap of 85.12.

    The (DXY) shows signs of a potential reversal, which BTIG views as a positive sign, but they believe it needs to fall below approximately 107 to confirm a peak. Lastly, the materials sector has seen a modest recovery following historically oversold conditions and a pullback in the dollar.

    However, the recovery has been minimal, and BTIG expresses a cautious outlook, expecting a counter-trend move upwards but acknowledging that the sector is testing their patience.

    This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.





    Source link

    Share this:

    • Click to share on Facebook (Opens in new window) Facebook
    • Click to share on X (Opens in new window) X

    Like this:

    Like Loading...

    Related

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleCrypto beyond investing: Alternative use cases for Bitcoin and the crypto lot
    Next Article Trump’s Ukraine envoy postpones Kyiv trip until after inauguration By Reuters
    user
    • Website

    Related Posts

    Australia’s investment in large-scale wind and solar hits six-year peak | Energy

    February 13, 2025

    Investing in fixed-income ETFs as market weighs Fed forecasts

    February 12, 2025

    Citigroup launches new preferred stock series By Investing.com

    February 12, 2025
    Add A Comment

    Leave a ReplyCancel reply

    © 2025 StockNews24. Designed by Sujon.

    Type above and press Enter to search. Press Esc to cancel.

    %d