The Greedy Trader Weekly Analysis
Sign In Apr 29, 2016
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S&P 500
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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal lineTrend resistance at 2098.08
Daily :Lane's Stochastic is overboughtMACD bearish divergence
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It was a second consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 10.85 points, or 0.52%, and closed at 2091.58 on Friday, April 22, 2016. ^GSPC was trading at average weekly trading volume.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term downtrend had started on May 20, 2015 at 2134.72 and reached 1810.10 on February 11, 2016. ^GSPC lost 324.62 points, or 15.21%, in 38 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (2098.08). 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 February 11, 2016 at 1810.10 and reached 2111.05 on April 20, 2016. ^GSPC gained -300.95 points, or -16.63%, in 9 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 2086.25 and resistance is at 2142.35. 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 medium-term trend.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since March 4, 2016. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 April 20, 2016 at 2111.05 and reached 2081.20 on April 22, 2016. ^GSPC lost 29.85 points, or 1.41%, in 2 days. The price is now at the 34.77% retracement level.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is below its signal line since April 21, 2016. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.26
Williams' Percentage Range (W%R) 23.60
Lane's Stochastic (%D-Slow) 85.59
Overbought
Greed/Fear Indicator (GFI) 73.41
Moving Average Converg./Diverg. (MACD) 22.10 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.02
Williams' Percentage Range (W%R) 6.50
Strong Overbought
Lane's Stochastic (%D-Slow) 95.01
Strong Overbought
Greed/Fear Indicator (GFI) 83.85
Overbought
Moving Average Converg./Diverg. (MACD) -9.20
Trading Signals
Description Value Chart
Monthly Trendline Resistance 2142.35
Upper Bollinger Band 2107.62
Daily Stochastic Crossing 2102.98
Weekly Stochastic Crossing 2101.78
Quarterly Trendline Resistance 2098.08
Price 2091.58
Monthly Trendline Support 2086.25
20 Day Moving Average 2069.31
Parabolic System 2067.51
Lower Bollinger Band 2026.69
50 Day Moving Average 2012.68
Quarterly Trendline Support 1786.47
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 2111.05
High Date 04/20/2016
Low 2081.20
Low Date 04/22/2016
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2033.80
Low Date 04/07/2016
High 2111.05
High Date 04/20/2016
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 2142.35
Support 2086.25
Low 1810.10
Low Date 02/11/2016
High 2111.05
High Date 04/20/2016
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 2098.08
Support 1786.47
High 2134.72
High Date 05/20/2015
Low 1810.10
Low Date 02/11/2016
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 666.79
Low Date 03/06/2009
High 2134.72
High Date 05/20/2015
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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