This is our weekly S&P 500 MoMo (momentum) report. We have analyzed the S&P 500 through our stock screeners to give you the top stock recommendations with positive and negative momentum to help you get an edge in your trading. We also look at whether the S&P 500 may be primed for a reversal based on its market internal indicators.
In this report we look at:
- The SPX looks to be in the midst of a pullback, the question now being how far does it go?
- This week’s longs: Alexion Pharmaceuticals (NASDAQ:ALXN), AT&T (NYSE:T), but also recommending American Water Works (NYSE:AWK) and Edison International (NYSE:EIX).
- This report also looks at the pullback happening in the market internals.
- It also looks at how different sectors and factors have been performing.
As selling continues to come into the S&P 500, 2120 is the level to watch. While a pullback is to be expected after such a solid month and a half rally, a drop below 2050 would likely portend that this is more than a digestion of recent gains and could compound into a far more serious selloff like we saw in August last year.
To read the entire report, please click on the PDF file below: