[Video] S&P Futures Set to Rally? UnitedHealth Group Breaks Out
Matt Simpson August 20, 2021 3:30 AM
Price action on the S&P E-mini futures contract suggests the corrective low could be in place. And a stock we’ve been watching has finally broken higher.
In today’s video we analyse the S&P E-mini futures chart, take a look at UnitedHealth Group and revise our analysis on Edward Lifesciences after its latest break higher.
In today’s video we analyse the S&P E-mini futures chart, take a look at UnitedHealth Group (UNH) and revise our analysis on Edward Lifesciences (EW) after its latest break higher. As for yesterday’s video, Target (TGT) closed below its 50-day eMA for a second session to a 32-bar low, our near-term bias remain bullish beneath 260 but further out we may reconsider bullish setups above the 230 area. Copper hit our target zone around 3.95 – 4.00, a break beneath .395 assumes bearish continuation although take note of yesterday’s lower wick at support as it shows bearish momentum is beginning to wane.
S&P 500: Market Internals
S&P 500: 4405.8 (0.13%), 19 August 2021
- Information Technology (0.98%) was the strongest sector and Energy (-2.6%) was the weakest
- 6 out of the 11 S&P 500 sectors closed higher
- 6 out of the 11 sectors outperformed the S&P 500
- 5 out of the 11 sectors traded lower on the S&P 500
- 233 (46.14%) stocks advanced and 271 (53.66%) declined
- 74.26% of stocks closed above their 200-day average
- 55.45% of stocks closed above their 50-day average
- 42.57% of stocks closed above their 20-day average
- + 10.5% - Bath & Body Works Inc (BBWI.N)
- + 8.73% - Synopsys Inc (SNPS.OQ)
- + 4.19% - Netflix Inc (NFLX.OQ)
- -7.88% - Illumina Inc (ILMN.OQ)
- -5.84% - Moderna Inc (MRNA.OQ)
- -5.80% - Occidental Petroleum Corp (OXY.N)
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