The Greedy Trader Weekly Analysis
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S&P 500
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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overbought
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price is above the upper Bollinger Band
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It was a third consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 18.68 points, or 0.81%, and closed at 2316.10 on Friday, February 10, 2017. ^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 2319.23 on February 10, 2017. ^GSPC gained -1652.44 points, or -247.82%, in 414 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 2040.83 and resistance is at 2377.66. 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 uptrend had started on November 4, 2016 at 2083.79 and reached 2319.23 on February 10, 2017. ^GSPC gained -235.44 points, or -11.30%, in 14 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (2289.11) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 2, 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 uptrend had started on January 31, 2017 at 2267.21 and reached 2319.23 on February 10, 2017. ^GSPC gained -52.02 points, or -2.29%, in 10 days. The price is now at the 6.02% retracement level.

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

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 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.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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) 75.55
Williams' Percentage Range (W%R) 11.20
Overbought
Lane's Stochastic (%D-Slow) 84.72
Overbought
Greed/Fear Indicator (GFI) 83.03
Overbought
Moving Average Converg./Diverg. (MACD) 10.84
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.17
Overbought
Williams' Percentage Range (W%R) 3.00
Strong Overbought
Lane's Stochastic (%D-Slow) 91.69
Strong Overbought
Greed/Fear Indicator (GFI) 84.97
Overbought
Moving Average Converg./Diverg. (MACD) 38.06
Trading Signals
Description Value Chart
Yearly Trendline Resistance 2377.66
Price 2316.10
Upper Bollinger Band 2314.57
Daily Stochastic Crossing 2313.11
Weekly Stochastic Crossing 2311.49
Monthly Trendline Resistance 2306.60
Monthly Trendline Support 2289.11
20 Day Moving Average 2285.31
Parabolic System 2270.56
50 Day Moving Average 2264.85
Lower Bollinger Band 2258.01
Yearly Trendline Support 2040.83
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 2267.21
Low Date 01/31/2017
High 2319.23
High Date 02/10/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2267.21
Low Date 01/31/2017
High 2319.23
High Date 02/10/2017
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 2306.60
Support 2289.11
Low 2083.79
Low Date 11/04/2016
High 2319.23
High Date 02/10/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1810.10
Low Date 02/11/2016
High 2319.23
High Date 02/10/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 2377.66
Support 2040.83
Low 666.79
Low Date 03/06/2009
High 2319.23
High Date 02/10/2017
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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