The Greedy Trader Weekly Analysis
Sign In Apr 12, 2024
Skip Navigation Links

Stock Market Trend Analysis Newsletter.

The Stock Market Week - 10/03/2008
As we had mentioned in our previous publications, the S&P 500 is now in sub wave three of the third down wave, which is considered the worse in the five-wave structure. The recent financial events appear to be the worse in the history of US financial market so far. "America's economy is facing unprecedented challenges," president Bush declared.

It was the worst week for the US stock market since September 2001. All the major US indices were negative. For the week the Dow Jones Industrial Average dropped 817.75 points, or 7.34%. The Standard & Poor's 500 Index dropped 113.78 points, or 9.38%, while the Nasdaq Composite dropped 235.95 points, or 10.81%.

The Consumer Staples sector was the strongest sector last week followed by the Health Care sector, while the Materials sector was the worst performing sector of the week followed by the Energy sector.

The Consumer Staples is the most overvalued sector now, followed by Financial sector; while Tobacco Products Other, Regional-Mid-Atlantic Banks, and Dairy Products are the most overvalued industries.

The Basic Materials is the most oversold sector, followed by Conglomerates sector, while Processing Systems/Prods, Metals Fabrication, and Aluminum industries are among the most oversold industries
Bear market statistics (19 during the last 100 years)
Description Average Current Worst Mildest
Time from the end of one bear market
to the beginning of the next		 45.3 months60 monthsN/AN/A
Length of a bear market18.5 months12 months47 month
(ended in 1949)		2 month
(ended in 1987)
Bear market decline36%28%89%
(ended in 1932)		21%
(ended in 1990)
Dow Jones Industrial Average Trend Analysis
Dow Jones Industrial Average long-term chart has formed a head and shoulders pattern. The price retested the neckline and has resumed the long-term downtrend. The pattern should be close to completion, but the price did not reach the target yet. The sharp price drop moved daily William's Percentage Range (W%R) into oversold area, while weekly W%R is strongly oversold. The oversold W%R is usually considered as an early warning indicator that signals exhaustion of the sharp down trend and predicts that it may slow down and reverse soon.
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 a 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 1140. The third wave down is in progress now. It has started on 5/19/2008 and it is now forming a sub wave three down as well. According to this wave count, the S&P 500 is now in sub wave three of the third down wave. This sub wave is considered the worse in the five-wave structure. Daily Lane's Stochastic indicator is oversold, while daily and weekly William's Percentage Ranges are strongly oversold. Other technical indicators might be in oversold area soon. The sub wave three might be close to completion within several weeks.
Standard & Poor's 500 - Long-Term Trend
Technical Stock Market Timing System
Nasdaq Composite Index Trend Analysis
The Nasdaq Composite index was in a long-term uptrend since 2002. As we suggested previously, the price was forming a symmetric triangle chart pattern. A triangle pattern usually represents an area of indecision, where the direction of the movement is questioned. In a mature trend a triangle chart pattern usually appears as a reversal formation. Recently the triangle pattern had a sharp breakdown with noticeable increase in volume. The price target for a triangle pattern is usually derived by measuring the distance between the starting high point of the ascending triangle with the starting low point of the triangle, which is then projected downward from the breakpoint.
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
Creative Commons License
This work is available under the terms of the
Creative Commons Attribution-NoDerivs 2.5 License.
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.
•  Home •  Weekly Pick •  Performance • Watch List • Disclaimer •  Privacy Policy •  Terms •  Q&A •  Trend • Free Content •  Glossary •  Links •  Books • 
•   Market Indices •  Oversold Stocks •  Overbought Stocks •  ETFs •  TA Search • Stocks Trend Alerts • Site Map •  Candlesticks •  Sectors •  Industries • Lookup •