The Greedy Trader Weekly Analysis
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- 1/23/2026 -
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SPDRs (SPY) Technical Analysis

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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineTrend resistance at 704.59
Daily :Daily  MACD line has moved below its signal lineA Parabolic SAR indicator is below and near the priceThe price is close to the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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It was the negative week for the SPDRs (SPY). During the week, the SPY gave back -2.43 points, or -0.35%, and closed at 689.23 on Friday, January 23, 2026. Weekly volume was 30% above average.

Long-term trend: [See SPY long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 348.12 and reached 696.09 on January 12, 2026. SPY gained -347.97 points, or -99.96%, in 169 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (704.59). 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 November 21, 2025 at 650.85 and reached 696.09 on January 12, 2026. SPY gained -45.24 points, or -6.95%, in 7 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (695.89) 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 and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and 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 below its signal line since November 14, 2025. 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 January 12, 2026 at 696.09 and reached 676.57 on January 20, 2026. SPY lost 19.52 points, or 2.80%, in 8 days. The price is now at the 64.86% retracement level.

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

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

A Parabolic SAR (stop and reversal) indicator (692.02) comes close to the price (689.23). 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.

The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (2.44%) is close to one year low (2.35%). It is 60.45% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.11
Williams' Percentage Range (W%R) 40.70
Lane's Stochastic (%D-Slow) 46.95
Greed/Fear Indicator (GFI) 54.13
Moving Average Converg./Diverg. (MACD) 2.31
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.61
Williams' Percentage Range (W%R) 13.00
Overbought
Lane's Stochastic (%D-Slow) 85.63
Overbought
Greed/Fear Indicator (GFI) 74.51
Moving Average Converg./Diverg. (MACD) 18.93
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 704.59
Weekly Trendline Resistance 698.49
Upper Bollinger Band 695.92
Weekly Trendline Support 695.89
Weekly Stochastic Crossing 692.34
Parabolic System 692.02
Price 689.23
20 Day Moving Average 688.89
Daily Stochastic Crossing 685.30
50 Day Moving Average 681.93
Lower Bollinger Band 679.13
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 696.09
High Date 01/12/2026
Low 676.57
Low Date 01/20/2026
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 698.49
Support 695.89
Low 650.85
Low Date 11/21/2025
High 696.09
High Date 01/12/2026
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 481.80
Low Date 04/07/2025
High 696.09
High Date 01/12/2026
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 704.59
Support 526.05
Low 348.12
Low Date 10/13/2022
High 696.09
High Date 01/12/2026
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 67.10
Low Date 03/06/2009
High 696.09
High Date 01/12/2026
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.