The Greedy Trader Weekly Analysis
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Archive
- 10/12/2018
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Industrial Select Sector SPDR
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend resistance lineTrend resistance at 74.42
Daily :The price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageLane's Stochastic is oversoldLane's Stochastic bullish divergenceThe price touches the lower Bollinger Band
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It was the negative week for the Industrial Select Sector SPDR (XLI). During the week, the XLI dropped -5.08 points, or -6.43%, and closed at 73.90 on Friday, October 12, 2018. Weekly volume was 141% 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 80.96 on January 29, 2018. XLI gained -65.82 points, or -434.74%, in 464 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (74.42). 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 XLI medium-term trend chart]
A medium-term downtrend had started on January 29, 2018 at 80.96 and reached 70.03 on May 3, 2018. XLI lost 10.93 points, or 13.50%, in 13 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (72.32) 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 medium-term trend.

Weekly Technical Indicators: [See XLI weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since July 27, 2018. The distance between MACD and the signal line is low and getting smaller. 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 May 3, 2018 at 70.03 and reached 80.41 on September 20, 2018. XLI gained -10.38 points, or -14.82%, in 140 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 72.32 and resistance is at 81.22. 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 Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Daily Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is below its signal line since September 24, 2018. The distance between MACD and the signal line is near its high and getting bigger.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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 touches the lower Bollinger Band. 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 price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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) 22.66
Williams' Percentage Range (W%R) 77.60
Lane's Stochastic (%D-Slow) 14.60
Oversold Bullish
Greed/Fear Indicator (GFI) 19.89
Oversold
Moving Average Converg./Diverg. (MACD) 0.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.29
Williams' Percentage Range (W%R) 59.50
Lane's Stochastic (%D-Slow) 75.18
Greed/Fear Indicator (GFI) 54.85
Moving Average Converg./Diverg. (MACD) 0.82
Trading Signals
Description Value Chart
Weekly Trendline Resistance 81.22
Upper Bollinger Band 81.20
Parabolic System 78.99
20 Day Moving Average 78.32
Weekly Stochastic Crossing 78.21
50 Day Moving Average 77.43
Yearly Trendline Resistance 74.42
Price 73.90
Lower Bollinger Band 73.88
Daily Stochastic Crossing 73.40
Monthly Trendline Resistance 72.91
Monthly Trendline Support 72.32
Weekly Trendline Support 72.32
Yearly Trendline Support 61.72
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 70.82
Low Date 06/28/2018
High 80.41
High Date 09/20/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 81.22
Support 72.32
Low 70.03
Low Date 05/03/2018
High 80.41
High Date 09/20/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 72.91
Support 72.32
High 80.96
High Date 01/29/2018
Low 70.03
Low Date 05/03/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 46.82
Low Date 01/20/2016
High 80.96
High Date 01/29/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 74.42
Support 61.72
Low 15.14
Low Date 03/06/2009
High 80.96
High Date 01/29/2018
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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