The Greedy Trader Weekly Analysis
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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 lineMACD bearish divergence
Daily :Stochastic has declined below the signal lineThe price has fallen below the Parabolic SARPrice is near the Fibonacci 23.6% retracement levelThe price touches the upper Bollinger BandThe period of low volatility of the stock price
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It was the first negative week for the S&P 500 (^GSPC). During the week, the ^GSPC gave back -0.18 points, or -0.01%, and closed at 2183.87 on Friday, August 19, 2016. Weekly volume was -18% below 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 1957.86 and resistance is at 2294.68. 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 June 27, 2016 at 1991.68 and reached 2193.81 on August 15, 2016. ^GSPC gained -202.13 points, or -10.15%, in 7 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 2163.29 and resistance is at 2198.54. 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. Weekly 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 weekly MACD 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 March 4, 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 August 2, 2016 at 2147.58 and reached 2193.81 on August 15, 2016. ^GSPC gained -46.23 points, or -2.15%, in 13 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.

The daily MACD line is below its signal line since July 28, 2016. The distance between MACD and the signal line is low, but getting bigger.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 touches the upper Bollinger Band. The distance between the Bollinger Bands is falling, and it was 1.64% on Friday. It is 74.49% lower than one year average. It indicates the period of low volatility of the stock price. 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) 57.17
Williams' Percentage Range (W%R) 20.70
Lane's Stochastic (%D-Slow) 66.83
Greed/Fear Indicator (GFI) 67.77
Moving Average Converg./Diverg. (MACD) 14.60
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.00
Williams' Percentage Range (W%R) 4.70
Strong Overbought
Lane's Stochastic (%D-Slow) 96.07
Strong Overbought
Greed/Fear Indicator (GFI) 82.99
Overbought
Moving Average Converg./Diverg. (MACD) 30.60 Bearish
Trading Signals
Description Value Chart
Yearly Trendline Resistance 2294.68
Monthly Trendline Resistance 2198.54
Parabolic System 2194.91
Upper Bollinger Band 2190.39
Weekly Stochastic Crossing 2185.05
Daily Stochastic Crossing 2183.88
Price 2183.87
20 Day Moving Average 2175.80
Monthly Trendline Support 2163.29
Lower Bollinger Band 2154.64
50 Day Moving Average 2134.64
Yearly Trendline Support 1957.86
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 2187.03
High Date 08/18/2016
Low 2175.13
Low Date 08/19/2016
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2147.58
Low Date 08/02/2016
High 2193.81
High Date 08/15/2016
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 2198.54
Support 2163.29
Low 1991.68
Low Date 06/27/2016
High 2193.81
High Date 08/15/2016
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 2294.68
Support 1957.86
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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