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Stock Market Trend Analysis Newsletter.

Standard & Poor's 500 Index Wave Analysis - 9/4/2009

The Standard & Poor's 500 Index is forming a rising wedge chart pattern. A rising wedge is generally considered bearish and it is usually found in downtrends. A rising wedge forms over a 3-6 months period. The current up trend is totally contained within the rising wedge. From low 666.75 on March 6th, S&P 500 surpassed 1000 in less than 6 months.

The Elliott Wave count of the S&P 500 index is shown below. The wage has formed an A-B-C-D wave structure with the wave D currently in progress. Rising A and C waves have similar five sub wave structures with bearish divergence between sub wave 3 and 5. Wave B is a three-wave Zig-Zag correction. For the count to be correct, wave D must be forming a three-wave Zig-Zag correction at present. The support line is now near 970.

The first leg up (wave A) was a sharp advance from 666.75 on March 6th to 956.23 on June 11th. The second leg up (wave C) advanced from 869.35 in July to 1039.47 in August (41% shorter than wave A). If support holds, the next up leg could reach the resistance level around 1075 in the beginning of October.

A rising wedge chart pattern technical targets are usually derived by subtracting the height of the pattern from the eventual breakout level. If wave D breaks the support line, the technical target is around 770.

Standard & Poor's 500
Technical Stock Market Timing System
Presented by www.thegreedytrader.com Research Group.

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
Is Dow Jones going above January high soon?
Dow Jones has advanced above the 50 Day Moving Average. MACD line has moved above its signal line. Both crossovers are considered as bullish signals.
Feb 19, 2010
The Dow Jones has formed a falling channel pattern
The Dow Jones lost 932.06 points, or 8.66%, since January 14. The downtrend has formed a falling channel pattern.
Feb 7 , 2010
The Dow Jones short-term down trend is near the support line
The Dow Jones is near the support line. Daily technical indicators are oversold. Almost 20% of S&P 500 members have an uptrend support alert.
Jan 31, 2010
S&P 500 has crossed below the 50 Day Moving Average
S&P MACD line has moved below its signal line; the price has crossed below the 50 Day MA and has closed below the lower Bollinger Band.
Jan 24, 2010
The Christmas rally has pushed the stocks ahead
The trend following indicators have turned bullish, while almost 20% of S&P 500 members are overbought.
Dec 25, 2009
Technical indicators caused a sharp stock market sell off
Strong resistance caused a sharp stock market sell off. The S&P 500 index has lost 3.3% in two days.
Sep 27, 2009
S&P 500 is forming a rising wedge pattern
S&P 500 is forming a rising wedge chart pattern. The next up leg could reach the resistance around 1075 in October.
Sep 6 , 2009
All three major US indices are overbought
109 out of S&P 500 members are overbought, 51 stocks have daily MACD bearish divergence.
Jul 25, 2009
S&P 500 - head and shoulders pattern
The S&P 500 has an Uptrend Exhaustion alert. Chart has formed the head and shoulders pattern. Price is near the neckline.
Jul 12, 2009
S&P 500 - Uptrend Exhaustion alert
The S&P 500 index has an Uptrend Exhaustion alert. The next resistance level is near 1044. The support is near 470.
Jun 7 , 2009
S&P 500 - downtrend resistance alert
The S&P 500 index has a downtrend resistance alert. The weekly ABC zigzag pattern is almost completed. Resistance is near 944.
May 10, 2009

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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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