The Greedy Trader Weekly Analysis
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Archive
- 12/8/2017
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Industrial Select Sector SPDR
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Summary:
Weekly :Williams' Percentage Range is overboughtLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Stochastic signal line moved below overbought area20 Day Moving Average has crossed above the 50 Day Moving AverageThe Bollinger Bands are historically far apart
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It was a third positive week after 4 consecutive negative weeks for the Industrial Select Sector SPDR (XLI). During the week, the XLI gained 1.07 points, or 1.45%, and closed at 74.69 on Friday, December 08, 2017. Weekly volume was 53% above average.

Long-term trend: [See XLI long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 15.14 and reached 75.10 on December 4, 2017. XLI gained -59.96 points, or -396.04%, in 456 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (57.66) 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 XLI medium-term trend chart]
A medium-term uptrend had started on January 20, 2016 at 46.82 and reached 75.10 on December 4, 2017. XLI gained -28.28 points, or -60.40%, in 97 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 69.71 and resistance is at 75.99. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See XLI weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 November 24, 2017. 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 XLI short-term trend chart]
A short-term uptrend had started on November 15, 2017 at 70.04 and reached 75.10 on December 4, 2017. XLI gained -5.06 points, or -7.22%, in 19 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 73.83 and resistance is at 76.60. 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 short-term trend.

Daily Technical Indicators: [See XLI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since November 24, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term uptrend is still strong, and momentum is beginning to wane.

The distance between the Bollinger Bands (8.14%) is close to one year high (6.37%). It is 126.18% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell 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.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 78.98
Williams' Percentage Range (W%R) 29.60
Lane's Stochastic (%D-Slow) 73.93
Greed/Fear Indicator (GFI) 74.42
Moving Average Converg./Diverg. (MACD) 0.51
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.76
Williams' Percentage Range (W%R) 18.40
Overbought
Lane's Stochastic (%D-Slow) 62.88
Bearish
Greed/Fear Indicator (GFI) 69.66
Moving Average Converg./Diverg. (MACD) 1.50 Bearish
Trading Signals
Description Value Chart
Weekly Trendline Resistance 76.60
Quarterly Trendline Resistance 75.99
Upper Bollinger Band 75.86
Price 74.69
Daily Stochastic Crossing 74.39
Weekly Trendline Support 73.83
Parabolic System 73.75
Weekly Stochastic Crossing 73.09
20 Day Moving Average 72.26
50 Day Moving Average 72.07
Yearly Trendline Resistance 70.36
Lower Bollinger Band 69.78
Quarterly Trendline Support 69.71
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 73.36
Low Date 12/06/2017
High 74.72
High Date 12/08/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 76.60
Support 73.83
Low 70.04
Low Date 11/15/2017
High 75.10
High Date 12/04/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 66.95
Low Date 08/21/2017
High 75.10
High Date 12/04/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 75.99
Support 69.71
Low 46.82
Low Date 01/20/2016
High 75.10
High Date 12/04/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 70.36
Support 57.66
Low 15.14
Low Date 03/06/2009
High 75.10
High Date 12/04/2017
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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