The Greedy Trader Weekly Analysis
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S&P 500
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Summary:
Weekly :Broken trend resistance lineTrend support at 2784.68
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtBroken trend resistance lineDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
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It was a third consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC gained 44.41 points, or 1.62%, and closed at 2779.03 on Friday, June 08, 2018. ^GSPC was trading at average weekly trading volume.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 666.79 and reached 2872.87 on January 26, 2018. ^GSPC gained -2206.08 points, or -330.85%, in 464 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2271.09) 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 ^GSPC medium-term trend chart]
A medium-term uptrend had started on February 11, 2016 at 1810.10 and reached 2872.87 on January 26, 2018. ^GSPC gained -1062.77 points, or -58.71%, in 102 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (2784.68) line. The support is usually stronger when technical indicators are oversold. 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 support line in a medium-term trend.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 9, 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 ^GSPC short-term trend chart]
A short-term uptrend had started on February 9, 2018 at 2532.69 and reached 2801.90 on March 13, 2018. ^GSPC gained -269.21 points, or -10.63%, in 32 days. The chart has formed a Falling Pennant chart pattern. The uptrend resistance line (2614.68) 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 short-term trend.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily 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 links to access Lane's Stochastic and Williams' Percentage Range help.

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

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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) 65.62
Williams' Percentage Range (W%R) 13.60
Overbought
Lane's Stochastic (%D-Slow) 96.34
Strong Overbought
Greed/Fear Indicator (GFI) 82.77
Overbought
Moving Average Converg./Diverg. (MACD) 16.26
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.31
Williams' Percentage Range (W%R) 31.50
Lane's Stochastic (%D-Slow) 79.78
Greed/Fear Indicator (GFI) 66.52
Moving Average Converg./Diverg. (MACD) 29.73
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 2930.25
Quarterly Trendline Support 2784.68
Price 2779.03
Daily Stochastic Crossing 2776.90
Upper Bollinger Band 2773.58
Weekly Stochastic Crossing 2754.76
20 Day Moving Average 2731.79
Parabolic System 2729.83
50 Day Moving Average 2687.04
Lower Bollinger Band 2685.92
Weekly Trendline Support 2614.68
Yearly Trendline Resistance 2607.91
Weekly Trendline Resistance 2595.94
Yearly Trendline Support 2271.09
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Low 2594.62
Low Date 05/03/2018
High 2779.90
High Date 06/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 2595.94
Support 2614.68
Low 2532.69
Low Date 02/09/2018
High 2801.90
High Date 03/13/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 2872.87
High Date 01/26/2018
Low 2532.69
Low Date 02/09/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 2930.25
Support 2784.68
Low 1810.10
Low Date 02/11/2016
High 2872.87
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2607.91
Support 2271.09
Low 666.79
Low Date 03/06/2009
High 2872.87
High Date 01/26/2018
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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