TheoTrade Daily: Utilities Break as the S&P 500 Holds Its Range

[Spotlight] Daily Video Newsletter Monday, October 7, 2024 Three Big Green Signals Flashing Blake Young has been able to 3X better than the S&P 500 this year because he monitors the “Deep Currents” that can show anyone how and when to make a move. Now he’s going public with shifts in THREE new currents - [don’t miss his big reveal. RSVP here.](=) ================================================ [Utilities Break as the S&P 500 Holds Its Range](=) By Brandon Chapman The S&P 500 has been drifting for a few weeks in a 100-point range that has yet to be broken. Even today, S&P 500 futures (ES) finished down 0.90%... on light volume. The market as a whole has held up, but interest-rate-sensitive parts of the market are starting to break. Utilities, for instance, were off 2.3% today on above average volume. NextEra Energy (NEE) was particularly hard hit - a leading loser in the S&P 100. By the time the bell rang and smoke cleared this afternoon, Energy was the only positive sector. Now, with Hurricane Milton steaming toward landfall, the dynamic is in play. We’ll look at this in-depth tonight. Higher oil prices are a major contributor to weakness in the Utilities sector, and Consumer Staples also beat the S&P 500 to the downside at -0.99% In fact, the continued rise in oil prices puts the market at risk, and with geopolitical conflict spiraling and oil supply tightening, higher crude prices are all but certain. Crude futures (CL) added another 3.95% today. As we’ll see in a moment, the market will break out relatively soon; the 100-point range will end. We’ll see who the winners and losers are. There are directional opportunities right now, but keeping some dry powder handy will help limit risk - or help step into a bullish breakout. [Let’s talk about it…](=) ================================================ The Market’s No. 1 Trading Guide, Free This is the perfect time to make sure you’re up to speed on your trading know-how. So I want to ensure you’ve read our free Rebel’s Guide to Trading Options - it covers all the basics of trading options. Like everything we do, the course is in plain English. It’s specially geared toward beginners but all traders will get something out of it. [Yours absolutely free, of course - right here…]( Recent Media Appearances by TheoTrade Jeff Bierman talks A.I. with YahooFinance LIVE [Click here to watch and read the interview ]() Follow Us on Twitter for Free Market Updates Throughout the Day: [() NEW MEDIA CHANNEL - JOIN TheoTRADE on RUMBLE [TheoTrade Rumble Channel]() NEED HELP? LOOKING FOR MORE ADVANCED TRAINING? CALL OUR VIP CONCIERGE SUPPORT TEAM: (623) 244-5657 For live updates throughout the week join the TotalTheo® Unlimited Monthly Streaming: [() Get 6 Months Membership Access for FREE [Click Here to Open and Fund a NEW tastytrade Account](=) Follow these step by step directions: 1. To open an account with tastytrade and enjoy an additional 6 months of TheoTRADE membership, start by clicking the button below.. 2. Follow the directions on that page to open a new account. 3. Fund the account with a minimum of $2,000 in the next 30 days and keep open for at least 6 months. 4. IMPORTANT: After the new account is open AND funded email support@theotrade.com so we can verify your new account. Please note it may take us up to one week to verify your account from the time you email us. 5. TheoTrade will then provide you membership access for 6 months! [Click here to get started now...]() Disclaimer: Neither TheoTrade or any of its officers, directors, employees, other personnel, representatives, agents or independent contractors is, in such capacities, a licensed financial adviser, registered investment adviser, registered broker-dealer or FINRA|SIPC|NFA-member firm. TheoTrade does not provide investment or financial advice or make investment recommendations. TheoTrade is not in the business of transacting trades, nor does TheoTrade agree to direct your brokerage accounts or give trading advice tailored to your particular situation. Nothing contained in our content constitutes a solicitation, recommendation, promotion, or endorsement of any particular security, other investment product, transaction or investment.Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. Past Performance is not necessarily indicative of future results. TheoTrade 16427 N Scottsdale Rd Suite # 410 Scottsdale, Arizona 85254 United States 1 (800) 256-8876 If you no longer wish to receive our emails, click the link below: [Unsubscribe](