S&P Global's confirmation week closes lower
S&P Global slips 3.4% as sellers take charge in its confirmation week
S&P Global's confirmation week closes lower
Our view last week
S&P Global stock closes its confirmation week down 5.4%, with contracting volume and sellers dominating the last bar. The double bottom in the 396 area holds, with a 6% intermediate rebound, but the buy signal that fired a week ago hasn't found traction yet: our model favors caution before adding to the position.
This week's summary
S&P Global stock closes the second week since its buy signal down 3.4%: sellers took charge on the last bar and buyer dominance is collapsing. After last week's 5.4% drop, the second week fails to convince and the technical picture stays weak, below the 200-week average and below the Ichimoku cloud. Our technical analysis model favors caution before adding to the position.
IQS Phase
33
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#78 / 120
US stocks in progress
Trade P&L %
-8.63%
from signal to date, no stop loss
Rank position
ranks 78th among the 120 Longs already running for US stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein strong phase
Performanceweekly +1.12% · monthly +3.94%
SPGI belongs to the financials sector (reference ETF XLF). The sector is classified in strong phase according to our weekly reading.
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