The Greedy Trader Weekly Analysis
Sign In May 27, 2016
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S&P 500
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Summary:
Weekly :Stochastic signal line moved below overbought area
Daily :The price has fallen below the Parabolic SARPrice is close to the 50 Day Moving Average
Move cursor over the icon to see details.

It was a first positive week after 3 consecutive negative weeks for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 5.71 points, or 0.28%, and closed at 2052.32 on Friday, May 20, 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 trend support level is at 1776.82 and resistance is at 2094.94. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern 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 price is now at the 19.51% retracement level.

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 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 downtrend had started on April 20, 2016 at 2111.05 and reached 2025.91 on May 19, 2016. ^GSPC lost 85.14 points, or 4.03%, in 29 days. The price is now at the 31.02% retracement level.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily technical indicators are neutral.

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.

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.

Price is close to the 50 Day Moving Average. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.02
Williams' Percentage Range (W%R) 78.40
Lane's Stochastic (%D-Slow) 34.37
Greed/Fear Indicator (GFI) 32.33
Moving Average Converg./Diverg. (MACD) 0.41
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.41
Williams' Percentage Range (W%R) 23.00
Lane's Stochastic (%D-Slow) 70.03
Greed/Fear Indicator (GFI) 68.31
Moving Average Converg./Diverg. (MACD) 5.60
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 2094.94
Upper Bollinger Band 2092.00
Weekly Stochastic Crossing 2080.14
Parabolic System 2078.00
20 Day Moving Average 2064.58
50 Day Moving Average 2060.54
Price 2052.32
Daily Stochastic Crossing 2041.97
Lower Bollinger Band 2027.82
Quarterly Trendline Support 1776.82
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Channel
High 2084.87
High Date 05/10/2016
Low 2025.91
Low Date 05/19/2016
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 2111.05
High Date 04/20/2016
Low 2025.91
Low Date 05/19/2016
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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 Valid
Resistance 2094.94
Support 1776.82
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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