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Market IndicesArchive
- 5/8/2026 -
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S&P 500 (^GSPC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a sixth positive week after 5 consecutive negative weeks for the S&P 500 (^GSPC). During the week, the ^GSPC gained 168.81 points, or 2.33%, and closed at 7398.93 on Friday, May 8, 2026. Weekly volume was 31% above average.
 Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 3491.58 and reached 7401.50 on May 8, 2026. ^GSPC gained -3909.92 points, or -111.98%, in 186 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (7288.54). 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 uptrend had started on March 30, 2026 at 6316.91 and reached 7401.50 on May 8, 2026. ^GSPC gained -1084.59 points, or -17.17%, in 5 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (7339.94) 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 Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since April 24, 2026. 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 May 4, 2026 at 7174.12 and reached 7401.50 on May 8, 2026. ^GSPC gained -227.38 points, or -3.17%, in 4 days. Price is near the trend high.
Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.
The daily MACD line is above its signal line since April 1, 2026. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
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| Industry |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
7174.12 |
| Low Date |
05/04/2026 |
| High |
7401.50 |
| High Date |
05/08/2026 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Resistance |
| Resistance |
7389.74 |
| Support |
7339.94 |
| Low |
6316.91 |
| Low Date |
03/30/2026 |
| High |
7401.50 |
| High Date |
05/08/2026 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
4835.04 |
| Low Date |
04/07/2025 |
| High |
7401.50 |
| High Date |
05/08/2026 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Test Resistance |
| Resistance |
7288.54 |
| Support |
5436.65 |
| Low |
3491.58 |
| Low Date |
10/13/2022 |
| High |
7401.50 |
| High Date |
05/08/2026 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
666.79 |
| Low Date |
03/06/2009 |
| High |
7401.50 |
| High Date |
05/08/2026 |
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