The Greedy Trader Weekly Analysis
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Archive
- 5/13/2016
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S&P 500
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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtPrice is near the Fibonacci 23.6% retracement level
Daily :Price has crossed below the 50 Day Moving AverageThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was the third consecutive negative week for the S&P 500 (^GSPC). During the week, the ^GSPC gave back -10.53 points, or -0.51%, and closed at 2046.61 on Friday, May 13, 2016. ^GSPC was trading at average weekly trading volume.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term downtrend had started on May 20, 2015 at 2134.72 and reached 1810.10 on February 11, 2016. ^GSPC lost 324.62 points, or 15.21%, in 38 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 1779.23 and resistance is at 2095.72. 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 long-term trend.

Medium-term trend: [See ^GSPC medium-term trend chart]
A medium-term uptrend had started on February 11, 2016 at 1810.10 and reached 2111.05 on April 20, 2016. ^GSPC gained -300.95 points, or -16.63%, in 9 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since March 4, 2016. This is an indication that the medium-term trend is up. 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 April 20, 2016 at 2111.05 and reached 2039.45 on May 6, 2016. ^GSPC lost 71.60 points, or 3.39%, in 16 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 2018.30 and resistance is at 2078.91. 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.

The daily MACD line is below its signal line since April 21, 2016. This is an indication that the short-term trend is down.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 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) 36.77
Williams' Percentage Range (W%R) 67.80
Lane's Stochastic (%D-Slow) 46.41
Greed/Fear Indicator (GFI) 38.46
Moving Average Converg./Diverg. (MACD) 5.41
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.84
Williams' Percentage Range (W%R) 16.10
Overbought
Lane's Stochastic (%D-Slow) 81.59
Overbought
Greed/Fear Indicator (GFI) 75.07
Moving Average Converg./Diverg. (MACD) 2.88
Trading Signals
Description Value Chart
Upper Bollinger Band 2101.41
Quarterly Trendline Resistance 2095.72
Weekly Stochastic Crossing 2091.65
Weekly Trendline Resistance 2078.91
20 Day Moving Average 2075.92
Daily Stochastic Crossing 2062.18
50 Day Moving Average 2054.66
Price 2046.61
Parabolic System 2040.20
Lower Bollinger Band 2030.34
Weekly Trendline Support 2018.30
Quarterly Trendline Support 1779.23
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 2039.45
Low Date 05/06/2016
High 2084.87
High Date 05/10/2016
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 2078.91
Support 2018.30
High 2111.05
High Date 04/20/2016
Low 2039.45
Low Date 05/06/2016
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1810.10
Low Date 02/11/2016
High 2111.05
High Date 04/20/2016
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 2095.72
Support 1779.23
High 2134.72
High Date 05/20/2015
Low 1810.10
Low Date 02/11/2016
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 666.79
Low Date 03/06/2009
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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