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Archive
- 5/29/2020 -
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SPDRs (SPY) |
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the SPDRs (SPY). During the week, the SPY gained 8.88 points, or 3.01%, and closed at 304.32 on Friday, May 29, 2020. Weekly volume was -18% below 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 339.08 on February 19, 2020. SPY gained -271.98 points, or -405.34%, in 571 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (307.26). 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 SPY medium-term trend chart]
A medium-term uptrend had started on January 20, 2016 at 181.02 and reached 339.08 on February 19, 2020. SPY gained -158.06 points, or -87.32%, in 213 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 259.31 and resistance is at 348.01. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See SPY weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since May 15, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See SPY short-term trend chart]
A short-term uptrend had started on May 14, 2020 at 272.99 and reached 306.84 on May 28, 2020. SPY gained -33.85 points, or -12.40%, in 14 days. The price is now at the 7.44% retracement level.
 Daily Technical Indicators: [See SPY daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. 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. 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. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since May 18, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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