Honestly, quite unsure how to approach this topic without begining too technical. As I have never done anything like this, have to start from the beginning.
{ Please take a look at first image file. Table depicts how I arrived at my final argument }.
Definition :
S&P 500 stock market index comprises 503 stocks (companies) traded on US stock exchanges. The 503 stocks could be categorized into 11 Sectors.
They are :
- Communication Services
- Consumer Discretionary
- Consumer Staples
- Energy
- Financials
- Health Care
- Industrials
- Information Technology
- Materials
- Real Estate
- Utilities
No of Coys :
Number of stocks in each Sector that is part of 503 companies.
No of Coy (50% Indx) :
Number of stocks in each Sector that constitute Top 50% of the Index, based on a stock's market cap.
Total % :
Sum of (Percentage of each stock's market cap against Index's total market cap).
Total % (50% Indx) :
Sum of (Percentage of each stock's [thats part of Top 50% of Index], market cap against Index's total market cap).
Sector Sts :
Generic indicator on each sector's performance based on current market situation. Selective stock's Quarterly earnings to derive overall status.
Summary
With Q3 2022 in the progress, it is expected that Financial and Energy sectors will meet targets. However other sectors will either be flat or unable to meet forecasts.
With 2 more interest hikes (Nov & Dec) in the pipleline, CPI (Sep) inflation is on high of 8.2%, PCE (Aug) at high of 6.2% as well - it is likely that S&P 500 should be hoovering between 3,500 and 3,860. Final answer (fingers crossed !!).
Hope my approach makes sense..
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