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Stock Market Trend Analysis Newsletter.

The Stock Market Week - 7/18/2008
In our previous publication on June 13, we suggested that major market indices are oversold, and we expected a short-term rally soon. All there major indices had a sharp rally this week. For the week the Dow Jones Industrial Average gained 396.03 points, or 3.57%. The Standard & Poor's 500 Index gained 21.19 points, or 1.71%, while the Nasdaq Composite gained 43.70 points, or 1.95%.

Finally, after a long decline, the Financial sector became the strongest sector last week followed by the Consumer Discretionary sector. The Energy sector was the worst performing sector of the week followed by the Utilities sector.

Dow Jones Industrial Average Trend Analysis
Dow Jones Industrial Average long-term chart has formed a head and shoulders pattern. This pattern is near completion. It is common for a head and shoulders pattern to retest the neckline. The neckline (around 11500) now becomes an important resistance level. The Dow Jones may retest this level, offering a second chance to sell, before moving down again.
Dow Jones Industrial Average - Long-Term Trend
Technical Stock Market Timing System
Standard & Poor's 500 Index Trend Analysis
Standard & Poor's 500 Index is in the long-term down trend that started on 10/11/2007 at 1576.09. The chart is forming a falling channel pattern. The support line is around 1200, and the resistance line is near 1375. The first down wave had five-wave structure, and it was completed on 3/17/2008 at 1256.98. Standard & Poor's 500 Index is in the third down wave of the long-term down trend. The third wave started on 5/19/2008. The short-term rally, that we had anticipated, is in process now. The third wave down might not be completed yet, and it may resume soon. On Friday, Standard & Poor's 500 Index has formed a Bearish Advance Block candlestick pattern. The Bearish Advance Block candlestick pattern is more meaningful during a mature uptrend. It is a sign of weakness, and it often precedes a meaningful price decline. A confirmation of the reversal on Monday might provide the needed proof that the short-term rally has reversed.
Standard & Poor's 500 - Long-Term Trend
Technical Stock Market Timing System
Nasdaq Composite Index Trend Analysis
The Nasdaq Composite index is retesting the long-term rising support line. As you can see in the chart below, this trend line served as a support line for five years, and Nasdaq Composite index was not able to break it. Every time the chart had touched the support line, the daily and weekly technical indicators had been in oversold area. Now for the first time weekly technical indicators are neutral. It makes the support line much weaker. After the short-term rally that we anticipated last week, Nasdaq Composite index might retest the long-term support line once more and the weakened support line might be broken.
Nasdaq Composite Index - Long-Term Trend
Technical Stock Market Timing System
Presented by www.thegreedytrader.com Research Group.
The Dow Jones has formed a Triangle chart pattern
The Dow Jones quarterly wave has formed a Triangle chart pattern. The triangle resistance line is broken. Price is retesting the former resistance line.
Sep 17, 2023
The Dow Jones has formed the Elliott Wave Impulse Wave pattern
Almost 6% of S&P 500 component stocks have strongly oversold weekly Lane's Stochastic. It is the highest level since April 03, 2020.
Oct 02, 2022
The S&P 500 - fifth consecutive negative week
More than 40% of S&P 500 component stocks have oversold weekly Williams' Percentage Range (W%R). It is the highest level since March 20, 2020.
May 08, 2022
The NASDAQ price is near the quarterly rising rhannel support level.
The Dow Jones price is near the 200 Day Moving Average.
Dec 04, 2021
The highest number of strongly overbought stocks since January
The NASDAQ Composite index has formed the Rising Channel chart pattern, and price is near the resistance level.
Aug 29, 2020
Bear market correction can be mistaken for the start of a new upswing.
Weekly uptrend has formed a Rising Wedge chart pattern. The Rising Wedge in downtrend indicates that higher level downtrend is not over yet.
Apr 17, 2020
Reduce the risk and use some stop losses techniques
S&P 500 Elliot Wave's cycle consists of eight waves; the five-wave motive phase followed by three-wave corrective phase.
Apr 12, 2020
The Best Trading Strategies for the Trending Market
S&P 500 Elliot Waves Analysis: falling channel has a five sub-waves impulse structure.
Mar 22, 2020
S&P 500 Bearish Trend Analysis
What to expect if the S&P breaks the long term rising channel support trendline.
Mar 14, 2020
S&P 500 Rising Wedge Breakdown
The S&P 500 intermediate trend Rising Wedge breakdown caused the biggest weekly loss since October 2008.
Mar 1 , 2020
NASDAQ biggest weekly advance
It was the biggest weekly NASDAQ advance recorded. More than 30% of S&P members are trading at their highest price in the past 52 weeks.
Jan 7 , 2018
Eighth consecutive positive week
It was the eighth consecutive positive week for S&P 500 index. More than 40% of S&P 500 component stocks have overbought weekly Lane's Stochastic. It is the highest level since April 29, 2016.
Nov 5 , 2017
ETF's Currency Shares Alert.
CurrencyShares Swedish Krona Trust (FXS) weekly downtrend reached 116.62 on September 27, making the biggest weekly drop since October 2015.
Sep 24, 2017
Dow Jones Industrial Average monthly uptrend - five-wave structure.
The Dow Jones Industrial Average monthly uptrend has formed a five-wave structure. It started on April 19, 2017 at 20,379.55 and reached 22,419.51 on September 21, 2017.
Sep 24, 2017
Sixth consecutive positive week for the S&P 500.
Almost 56% of S&P 500 component stocks have overbought weekly Williams' Percentage Range. It is the highest level since December 26, 2014.
Mar 5 , 2017
Third consecutive negative week for the Dow Jones
Almost 40% of S&P 500 component stocks have oversold daily Lane's Stochastic. It is a highest level since November 16, 2012.
Mar 15, 2015
Dow Jones is near 200 Day Moving Average
During the past week, Dow Jones Industrial Average sank 507.65 points or 2.87%, to 17164.95. Williams' Percentage Range and Lane's Stochastic are overbought in a monthly time frame. The Dow Jones price is near 200 Day Moving Average.
Feb 1 , 2015
S&P 500 at highest level since Oct 2007
The major indices and more than a half of S&P 500 members are strongly overbought in daily, weekly, and monthly time frames.
Mar 17, 2013
S&P 500 members Downtrend Resistance Alert
Dow Jones, NASDAQ, and More than 40% of S&P 500 members have the Downtrend Resistance Alert.
Oct 30, 2011
The short-term rally is over
S&P 500 index may break the support around 1100 and move down to the next support area around 1000 - 950.
Sep 5 , 2011
S&P 500 is close to the 50 Day Moving Average
S&P 500 index has fallen below the Parabolic SAR (stop and reversal). Price is close to the 50 Day Moving Average.
Mar 13, 2011
S&P 500 index wave's structure
S&P 500 medium-term uptrend has a five wave's structure. The fifth sub wave is near completion.
Dec 26, 2010
Monthly W%R is strongly overbought for the first time since October 2007
The S&P 500 technical indicators are pretty close to the beginning of October 2007, just a week prior the beginning of the bear market of 2007-2009.
Oct 17, 2010
More than a half of S&P 500 members are overbought
More than 10% of S&P 500 index members made a new 52-week high, but almost a half of them closed this week below the previous week's close.
Sep 12, 2010
S&P 500 members - Trend Support Alert
Daily and weekly indicators are oversold for all three major US indices. More than 28% of S&P members are oversold, and more than 22% have a Trend Support Alert.
Jul 4 , 2010
S&P 500 members - Downtrend Resistance alert
More than 60 S&P members have the Downtrend Resistance Alert. Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought.
Jun 20, 2010
S&P 500 members - uptrend support alert
More than 30% of S&P 500 members have an uptrend support alert. This alert indicates that stock price is near the monthly uptrend support level.
May 23, 2010
Dow Jones Elliott Wave count
Dow Jones gained 68.03% in 53 weeks. The chart has formed a Rising Channel chart pattern. Fifth wave up is in progress.
Mar 21, 2010
NASDAQ at the highest level since September 2008
NASDAQ medium-term trend has formed a five-wave structure. The fifth wave is in progress now. The price is near the trend resistance line (2331.43).
Mar 5 , 2010
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Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.
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