The Greedy Trader Weekly Analysis
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Archive
- 9/16/2016
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S&P 500
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Summary:
Weekly :Broken trend support lineStochastic signal line moved below overbought area
Daily :20 Day Moving Average has crossed below the 50 Day Moving Average
Move cursor over the icon to see details.

It was a first positive week for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 11.35 points, or 0.53%, and closed at 2139.16 on Friday, September 16, 2016. It was the best weekly gain since July 22, 2016. ^GSPC was trading at average weekly trading volume.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 666.79 and reached 2193.81 on August 15, 2016. ^GSPC gained -1527.02 points, or -229.01%, in 388 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 1971.00 and resistance is at 2307.82. 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 long-term trend.

Medium-term trend: [See ^GSPC medium-term trend chart]
A medium-term downtrend had started on August 15, 2016 at 2193.81 and reached 2119.12 on September 12, 2016. ^GSPC lost 74.69 points, or 3.40%, in 4 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend support line (2146.23) is broken. Usually a broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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 weekly MACD line is above its signal line since March 4, 2016. The distance between MACD and the signal line is low and getting smaller. 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 September 7, 2016 at 2187.87 and reached 2119.12 on September 12, 2016. ^GSPC lost 68.75 points, or 3.14%, in 5 days. The price is now at the 29.15% retracement level.

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

The daily MACD line is below its signal line since July 28, 2016. This is an indication that the short-term trend is down.

During the last week, the 20 Day Moving Average 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) 42.11
Williams' Percentage Range (W%R) 63.20
Lane's Stochastic (%D-Slow) 29.86
Greed/Fear Indicator (GFI) 36.26
Moving Average Converg./Diverg. (MACD) -2.34
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.24
Williams' Percentage Range (W%R) 23.40
Lane's Stochastic (%D-Slow) 76.36
Greed/Fear Indicator (GFI) 68.93
Moving Average Converg./Diverg. (MACD) 35.62
Trading Signals
Description Value Chart
Yearly Trendline Resistance 2307.82
Upper Bollinger Band 2201.21
Monthly Trendline Resistance 2182.21
Weekly Stochastic Crossing 2172.52
50 Day Moving Average 2168.04
Parabolic System 2167.20
20 Day Moving Average 2166.43
Monthly Trendline Support 2146.23
Price 2139.16
Daily Stochastic Crossing 2134.80
Lower Bollinger Band 2118.76
Yearly Trendline Support 1971.00
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 2151.31
High Date 09/15/2016
Low 2131.20
Low Date 09/16/2016
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 2187.87
High Date 09/07/2016
Low 2119.12
Low Date 09/12/2016
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Support
Resistance 2182.21
Support 2146.23
High 2193.81
High Date 08/15/2016
Low 2119.12
Low Date 09/12/2016
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1810.10
Low Date 02/11/2016
High 2193.81
High Date 08/15/2016
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 2307.82
Support 1971.00
Low 666.79
Low Date 03/06/2009
High 2193.81
High Date 08/15/2016
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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