In today’s briefing:
- Still Expecting 4165-4200 on S&P 500 to Cap Upside; Buys Within Insurance and Steel/Metals
- Morning Views Asia: Anton Oilfield, Central China Securities, Yuexiu Property
Still Expecting 4165-4200 on S&P 500 to Cap Upside; Buys Within Insurance and Steel/Metals
- SPX is holding above its 200-day MA/3940 coinciding with its prior downtrend from 2022 near 3915; 3915-3940 remains critical support, and is the gateway to a much deeper pullback.
- Additionally, the Nasdaq 100 (QQQ) is breaking back above $297, another important line in the sand for us.
- The SPX holding at 3915-3940 could be the spark that allows another run toward YTD highs, but we continue to expect 4165-4200 to cap upside on the S&P 500.
Morning Views Asia: Anton Oilfield, Central China Securities, Yuexiu Property
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.
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