The Greedy Trader Weekly Analysis
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- 5/29/2020 -
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SPDRs (SPY)

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Summary:
Weekly :Lane's Stochastic is overboughtTrend resistance at 307.26
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineMACD bearish divergence
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.21
Williams' Percentage Range (W%R) 12.90
Overbought
Lane's Stochastic (%D-Slow) 89.47
Overbought
Greed/Fear Indicator (GFI) 79.91
Moving Average Converg./Diverg. (MACD) 4.84 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.16
Williams' Percentage Range (W%R) 30.30
Lane's Stochastic (%D-Slow) 83.57
Overbought
Greed/Fear Indicator (GFI) 67.42
Moving Average Converg./Diverg. (MACD) -6.18
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 348.01
Yearly Trendline Resistance 307.26
Upper Bollinger Band 306.69
Daily Stochastic Crossing 305.24
Price 304.32
Weekly Stochastic Crossing 299.38
20 Day Moving Average 291.65
Monthly Trendline Support 287.78
Parabolic System 286.58
Lower Bollinger Band 278.49
50 Day Moving Average 276.66
Monthly Trendline Resistance 275.94
Yearly Trendline Support 261.77
Quarterly Trendline Support 259.31
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 272.99
Low Date 05/14/2020
High 306.84
High Date 05/28/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 218.26
Low Date 03/23/2020
High 306.84
High Date 05/28/2020
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 275.94
Support 287.78
High 339.08
High Date 02/19/2020
Low 218.26
Low Date 03/23/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 348.01
Support 259.31
Low 181.02
Low Date 01/20/2016
High 339.08
High Date 02/19/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 307.26
Support 261.77
Low 67.10
Low Date 03/06/2009
High 339.08
High Date 02/19/2020
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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