Video SP 500 Futures Set to Rally UnitedHealth Group Breaks Out

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

Outperformers:

• + 10.5%   -  Bath & Body Works Inc  (BBWI.N) 
• + 8.73%   -  Synopsys Inc  (SNPS.OQ) 
• + 4.19%   -  Netflix Inc  (NFLX.OQ) 

Underperformers:

• -7.88%   -  Illumina Inc  (ILMN.OQ) 
• -5.84%   -  Moderna Inc  (MRNA.OQ) 
• -5.80%   -  Occidental Petroleum Corp  (OXY.N) 

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