The Greedy Trader Weekly Analysis
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Archive
- 1/29/2016
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S&P 500
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Summary:
Weekly :Trend resistance at 1985.25
Daily :Daily  MACD line has moved above its signal lineThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a second positive week after 3 consecutive negative weeks for the S&P 500 (^GSPC). During the week, the ^GSPC gained 33.34 points, or 1.75%, and closed at 1940.24 on Friday, January 29, 2016. Weekly volume was 27% above average.

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 price is near the trend resistance line (1985.25). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See ^GSPC medium-term trend chart]
A medium-term downtrend had started on May 20, 2015 at 2134.72 and reached 1812.29 on January 20, 2016. ^GSPC lost 322.43 points, or 15.10%, in 35 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 1816.40 and resistance is at 2046.52. 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 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 December 31, 2015. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See ^GSPC short-term trend chart]
A short-term uptrend had started on January 20, 2016 at 1812.29 and reached 1940.24 on January 29, 2016. ^GSPC gained -127.95 points, or -7.06%, in 9 days. Price is near the trend high.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has moved above 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.65
Williams' Percentage Range (W%R) 67.30
Lane's Stochastic (%D-Slow) 69.67
Greed/Fear Indicator (GFI) 51.66
Moving Average Converg./Diverg. (MACD) -38.64
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.76
Williams' Percentage Range (W%R) 73.10
Lane's Stochastic (%D-Slow) 26.75
Greed/Fear Indicator (GFI) 32.10
Moving Average Converg./Diverg. (MACD) -9.75
Trading Signals
Description Value Chart
Monthly Trendline Resistance 2062.16
Quarterly Trendline Resistance 2046.52
Upper Bollinger Band 2034.29
50 Day Moving Average 2007.65
Yearly Trendline Resistance 1985.25
Price 1940.24
20 Day Moving Average 1924.86
Daily Stochastic Crossing 1908.71
Parabolic System 1870.83
Weekly Stochastic Crossing 1867.62
Lower Bollinger Band 1827.07
Monthly Trendline Support 1821.37
Quarterly Trendline Support 1816.40
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 1812.29
Low Date 01/20/2016
High 1940.24
High Date 01/29/2016
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 2081.56
High Date 12/29/2015
Low 1812.29
Low Date 01/20/2016
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 2062.16
Support 1821.37
High 2116.48
High Date 11/03/2015
Low 1812.29
Low Date 01/20/2016
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 2046.52
Support 1816.40
High 2134.72
High Date 05/20/2015
Low 1812.29
Low Date 01/20/2016
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 1985.25
Support 1259.56
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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