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|It was a second consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC gained 57.95 points, or 2.13%, and closed at 2781.01 on Friday, November 09, 2018. ^GSPC was trading at average weekly trading volume. |
Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 666.79 and reached 2940.91 on September 21, 2018. ^GSPC gained -2274.12 points, or -341.05%, in 498 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2345.77) 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 downtrend had started on September 21, 2018 at 2940.91 and reached 2603.54 on October 29, 2018. ^GSPC lost 337.37 points, or 11.47%, in 5 weeks. The price is now at the 52.60% retracement level.
Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 5, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 October 29, 2018 at 2603.54 and reached 2815.15 on November 7, 2018. ^GSPC gained -211.61 points, or -8.13%, in 9 days. The price is now at the 16.13% retracement level.
Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. 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 daily MACD line is above its signal line since November 1, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.