The Greedy Trader Weekly Analysis
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S&P 500
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend resistance lineTrend support at 2624.13
Daily :Price has crossed below the 50 Day Moving AverageBullish Harami CandlestickThe Bollinger Bands are historically far apart
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It was the negative week for the S&P 500 (^GSPC). During the week, the ^GSPC dropped -142.58 points, or -5.16%, and closed at 2619.55 on Friday, February 09, 2018. Weekly volume was 61% 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 2872.87 on January 26, 2018. ^GSPC gained -2206.08 points, or -330.85%, in 464 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2214.39) is broken. Usually a broken resistance is considered to be a long-term bullish 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 resistance line 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 2872.87 on January 26, 2018. ^GSPC gained -1062.77 points, or -58.71%, in 102 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (2624.13) line. The support is usually stronger when technical indicators are oversold. 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 support line 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 September 29, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend 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 March 27, 2017 at 2322.25 and reached 2872.87 on January 26, 2018. ^GSPC gained -550.62 points, or -23.71%, in 305 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 2528.19 and resistance is at 2898.76. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending 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 January 30, 2018. The distance between MACD and the signal line is near its high and getting bigger.

The distance between the Bollinger Bands (12.48%) is close to one year high (7.71%). It is 306.99% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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.

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.

Candlestick pattern: [See ^GSPC candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 27.23
Williams' Percentage Range (W%R) 79.70
Lane's Stochastic (%D-Slow) 20.24
Greed/Fear Indicator (GFI) 22.59
Moving Average Converg./Diverg. (MACD) 8.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.75
Williams' Percentage Range (W%R) 70.40
Lane's Stochastic (%D-Slow) 78.63
Greed/Fear Indicator (GFI) 53.35
Moving Average Converg./Diverg. (MACD) 75.46
Trading Signals
Description Value Chart
Weekly Trendline Resistance 2898.76
Upper Bollinger Band 2898.74
Quarterly Trendline Resistance 2826.93
Weekly Stochastic Crossing 2783.68
20 Day Moving Average 2775.27
50 Day Moving Average 2719.13
Parabolic System 2703.36
Quarterly Trendline Support 2624.13
Price 2619.55
Monthly Trendline Resistance 2613.37
Daily Stochastic Crossing 2606.75
Lower Bollinger Band 2571.69
Yearly Trendline Resistance 2551.21
Weekly Trendline Support 2528.19
Monthly Trendline Support 2517.22
Yearly Trendline Support 2214.39
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 2872.87
High Date 01/26/2018
Low 2532.69
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 2898.76
Support 2528.19
Low 2322.25
Low Date 03/27/2017
High 2872.87
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 2613.37
Support 2517.22
Low 2083.79
Low Date 11/04/2016
High 2872.87
High Date 01/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 2826.93
Support 2624.13
Low 1810.10
Low Date 02/11/2016
High 2872.87
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2551.21
Support 2214.39
Low 666.79
Low Date 03/06/2009
High 2872.87
High Date 01/26/2018
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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