SPY Stock Declines 1.49% Amidst Moderate Buy Ratings and 13.1% Upside Potential

The SPDR S&P 500 ETF Trust (SPY) has seen a modest decrease of 1.49% over the past five days, yet it remains up by 9.5% for the year. Analysts predict that the SPY is a Moderate Buy, with an average price target of $719.03, indicating an upside potential of 13.1%. Notably, the ETF’s holdings with the highest projected upside include Loews, Moderna, LKQ Corporation, Caesars Entertainment, and The Trade Desk. Conversely, those with the most significant downside potential are Paramount Skydance, Viatris, Garmin, Altria, and eBay. The ETF currently holds a Smart Score of eight, suggesting a likelihood to outperform the broader market in the long term.

Recent pivot points for the SPY have been calculated using the DeMark method, with a pivot high at $644.77 and a pivot low at $641.19. Typically, breaking above the pivot high is interpreted as bullish, while falling below the pivot low is seen as bearish.

On August 21, the SPY experienced a slight decline of 0.21% over the previous five days, maintaining a 10.4% increase year-to-date. Analysts continue to classify SPY as a Moderate Buy, with a price target of $718.24, projecting an upside potential of 12.6%. Current top holdings for potential upside encompass Moderna, Charter Communications, Loews, Trade Desk, and Coterra Energy, while those with potential downside include Viatris, Lennar Corporation, Paramount Skydance, Intel, and eBay. The Smart Score of seven indicates expected performance in line with the general market.

On August 19, SPY posted a 0.99% rise over the week, and an ongoing 10.4% gain for the year, underpinned by a Moderate Buy rating from analysts. The price target stands at $712.94, reflecting a prospective upside of 10.8%. Holdings with the highest projected upside are Moderna, Charter Communications, Loews, Trade Desk, and Fair Isaac Corporation. Its holdings facing potential downside risk include Viatris, Paramount Skydance, Palantir Technologies, eBay, and Lennar Corporation. The SPDR S&P 500 ETF's Smart Score of seven reaffirms expectations of market-aligned performance.

In conjunction with past pivot points identified for SPY at $644.56 (high) and $642.74 (low) employing the DeMark method, an upward breakout is generally considered bullish, whereas a breakdown below the pivot low tends to be bearish.