The Greedy Trader Weekly Analysis
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Archive
- 7/24/2015
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S&P 500
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Summary:
Weekly :Broken trend resistance line
Daily :Stochastic has declined below the signal lineThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the first negative week for the S&P 500 (^GSPC). During the week, the ^GSPC dropped -46.99 points, or -2.21%, and closed at 2079.65 on Friday, July 24, 2015. It was the worst weekly loss since March 27, 2015. ^GSPC was trading at average weekly trading volume.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on February 10, 1995 at 479.53 and reached 2134.72 on May 20, 2015. ^GSPC gained -1655.19 points, or -345.17%, in 1057 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (1241.60) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See ^GSPC medium-term trend chart]
A medium-term uptrend had started on March 6, 2009 at 666.79 and reached 2134.72 on May 20, 2015. ^GSPC gained -1467.93 points, or -220.15%, in 323 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 2027.45 and resistance is at 2101.90. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since March 6, 2015. Use the following link to access a MACD help.

Short-term trend: [See ^GSPC short-term trend chart]
A short-term downtrend had started on May 20, 2015 at 2134.72 and reached 2044.02 on July 7, 2015. ^GSPC lost 90.70 points, or 4.25%, in 48 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 2014.65 and resistance is at 2124.74. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since July 13, 2015. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.02
Williams' Percentage Range (W%R) 34.40
Lane's Stochastic (%D-Slow) 60.33
Greed/Fear Indicator (GFI) 59.64
Moving Average Converg./Diverg. (MACD) 2.06
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.69
Williams' Percentage Range (W%R) 34.20
Lane's Stochastic (%D-Slow) 51.92
Greed/Fear Indicator (GFI) 55.24
Moving Average Converg./Diverg. (MACD) 20.26
Trading Signals
Description Value Chart
Monthly Trendline Resistance 2250.46
Monthly Trendline Support 2157.79
Upper Bollinger Band 2149.98
Parabolic System 2134.95
Weekly Trendline Resistance 2124.74
Daily Stochastic Crossing 2105.90
50 Day Moving Average 2102.26
Quarterly Trendline Resistance 2101.90
20 Day Moving Average 2090.57
Weekly Stochastic Crossing 2086.47
Price 2079.65
Lower Bollinger Band 2049.03
Quarterly Trendline Support 2027.45
Weekly Trendline Support 2014.65
Yearly Trendline Resistance 1955.16
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 2044.02
Low Date 07/07/2015
High 2132.82
High Date 07/20/2015
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 2124.74
Support 2014.65
High 2134.72
High Date 05/20/2015
Low 2044.02
Low Date 07/07/2015
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 2250.46
Support 2157.79
Low 1266.74
Low Date 06/04/2012
High 2134.72
High Date 05/20/2015
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 2101.90
Support 2027.45
Low 666.79
Low Date 03/06/2009
High 2134.72
High Date 05/20/2015
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 1955.16
Support 1241.60
Low 479.53
Low Date 02/10/1995
High 2134.72
High Date 05/20/2015
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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