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Archive
- 8/27/2010
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| | It was the third consecutive negative week for the SPDRs (SPY). During the week, the SPY gave back -0.67 points, or -0.62%, and closed at 106.86 on Friday, August 27, 2010. Weekly volume was 17% above average.
 Long-term trend: [See SPY long-term trend chart]
A long-term downtrend had started on May 19, 2008 at 144.30 and reached 67.10 on March 6, 2009. SPY lost 77.20 points, or 53.50%, in 41 weeks. The chart has formed a Falling Channel chart pattern. A Falling 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 Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
 Medium-term trend: [See SPY medium-term trend chart]
A medium-term uptrend had started on March 6, 2009 at 67.10 and reached 122.12 on April 26, 2010. SPY gained -55.02 points, or -82.00%, in 59 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (130.04) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. SPY may retest the broken support line. It is considered to be a resistance line now. 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 technical indicators are neutral.
The weekly MACD line is below its signal line since May 7, 2010. The distance between MACD and the signal line is low, but getting bigger. 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 April 26, 2010 at 122.12 and reached 101.13 on July 1, 2010. SPY lost 20.99 points, or 17.19%, in 66 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (87.94) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a short-term trend.
 Daily Technical Indicators: [See SPY daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. 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 Williams' Percentage Range help.
The daily MACD line is below its signal line since August 10, 2010. This is an indication that the short-term trend is down.
A Parabolic SAR (stop and reversal) indicator (107.19) comes close to the price (106.86). It indicates that the trend is getting weaker. 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.
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