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- 11/18/2016
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S&P 500
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Summary:
Weekly :Williams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overbought
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It was a second consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 17.45 points, or 0.81%, and closed at 2181.90 on Friday, November 18, 2016. Weekly volume was 13% above average.

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 2002.11 and resistance is at 2338.94. 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 2083.79 on November 4, 2016. ^GSPC lost 110.02 points, or 5.02%, in 11 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (2074.73) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ^GSPC may retest the broken resistance line. It is considered to be a support line now. 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 medium-term trend.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is below its signal line since September 16, 2016. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 November 4, 2016 at 2083.79 and reached 2189.89 on November 18, 2016. ^GSPC gained -106.10 points, or -5.09%, in 14 days. The price is now at the 7.53% retracement level.

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

The daily MACD line is above its signal line since November 7, 2016. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.25
Williams' Percentage Range (W%R) 2.90
Strong Overbought
Lane's Stochastic (%D-Slow) 92.23
Strong Overbought
Greed/Fear Indicator (GFI) 85.54
Overbought
Moving Average Converg./Diverg. (MACD) 3.29
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.66
Williams' Percentage Range (W%R) 5.60
Strong Overbought
Lane's Stochastic (%D-Slow) 46.38
Greed/Fear Indicator (GFI) 63.83
Moving Average Converg./Diverg. (MACD) 23.43
Trading Signals
Description Value Chart
Yearly Trendline Resistance 2338.94
Upper Bollinger Band 2213.41
Daily Stochastic Crossing 2186.58
Price 2181.90
Monthly Trendline Resistance 2159.00
50 Day Moving Average 2146.45
20 Day Moving Average 2142.99
Weekly Stochastic Crossing 2137.26
Parabolic System 2130.83
Lower Bollinger Band 2093.01
Monthly Trendline Support 2074.73
Yearly Trendline Support 2002.11
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 2083.79
Low Date 11/04/2016
High 2189.89
High Date 11/18/2016
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2083.79
Low Date 11/04/2016
High 2189.89
High Date 11/18/2016
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 2159.00
Support 2074.73
High 2193.81
High Date 08/15/2016
Low 2083.79
Low Date 11/04/2016
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 2338.94
Support 2002.11
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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