The Greedy Trader Weekly Analysis
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Archive
- 5/10/2019
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SPDRs
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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range is overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal lineBroken trend resistance line
Daily :The price has declined below the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was the negative week for the SPDRs (SPY). During the week, the SPY dropped -5.93 points, or -2.02%, and closed at 288.10 on Friday, May 10, 2019. It was the worst weekly loss since March 8, 2019. Weekly volume was 31% above average.

Long-term trend: [See SPY long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 67.10 and reached 294.95 on May 1, 2019. SPY gained -227.85 points, or -339.57%, in 529 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (245.12) 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 SPY medium-term trend chart]
A medium-term uptrend had started on December 26, 2018 at 233.76 and reached 294.95 on May 1, 2019. SPY gained -61.19 points, or -26.18%, in 18 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (303.71) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.

Weekly Technical Indicators: [See SPY weekly technical indicators chart]
Weekly 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 weekly Williams' Percentage Range or strongly overbought weekly 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 February 1, 2019. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See SPY short-term trend chart]
A short-term downtrend had started on May 1, 2019 at 294.95 and reached 282.30 on May 10, 2019. SPY lost 12.65 points, or 4.29%, in 9 days. The price is now at the 45.85% retracement level.

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

The daily MACD line is below its signal line since April 30, 2019. This is an indication that the short-term trend is down.

During the last week, the price has declined below 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.

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) 44.55
Williams' Percentage Range (W%R) 73.70
Lane's Stochastic (%D-Slow) 36.30
Greed/Fear Indicator (GFI) 35.70
Moving Average Converg./Diverg. (MACD) 1.86
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.52
Williams' Percentage Range (W%R) 15.20
Overbought
Lane's Stochastic (%D-Slow) 90.46
Strong Overbought
Greed/Fear Indicator (GFI) 78.05
Moving Average Converg./Diverg. (MACD) 2.92
Trading Signals
Description Value Chart
Monthly Trendline Support 303.71
Monthly Trendline Resistance 297.05
Upper Bollinger Band 293.98
Weekly Stochastic Crossing 293.01
Parabolic System 291.17
20 Day Moving Average 290.93
Price 288.10
Daily Stochastic Crossing 285.99
50 Day Moving Average 285.72
Lower Bollinger Band 285.15
Yearly Trendline Resistance 279.71
Yearly Trendline Support 245.12
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 294.34
High Date 05/03/2019
Low 282.30
Low Date 05/10/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 294.95
High Date 05/01/2019
Low 282.30
Low Date 05/10/2019
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 297.05
Support 303.71
Low 233.76
Low Date 12/26/2018
High 294.95
High Date 05/01/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 181.02
Low Date 01/20/2016
High 294.95
High Date 05/01/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 279.71
Support 245.12
Low 67.10
Low Date 03/06/2009
High 294.95
High Date 05/01/2019
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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