The Greedy Trader Weekly Analysis
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Industrial Select Sector SPDR
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend resistance line
Daily :Price has crossed below the 50 Day Moving AverageBullish Homing Pigeon CandlestickPrice is near the Fibonacci 23.6% retracement levelThe Bollinger Bands are historically far apart
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It was the negative week for the Industrial Select Sector SPDR (XLI). During the week, the XLI dropped -4.18 points, or -5.36%, and closed at 73.81 on Friday, February 09, 2018. Weekly volume was 236% 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 uptrend resistance line (58.46) 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 80.96 on January 29, 2018. XLI gained -34.14 points, or -72.92%, in 105 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 71.74 and resistance is at 78.03. 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 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 November 24, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See XLI short-term trend chart]
A short-term downtrend had started on January 29, 2018 at 80.96 and reached 71.49 on February 9, 2018. XLI lost 9.47 points, or 11.70%, in 11 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The daily MACD line is below its signal line since January 23, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The distance between the Bollinger Bands (12.52%) is close to one year high (8.78%). It is 204.27% 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 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.

Candlestick pattern: [See XLI candlestick chart pattern]
On Friday the chart has formed a Bullish Homing Pigeon Candlestick pattern. A Bullish Homing Pigeon pattern occurs in a downtrend. Market usually has a tendency to enter into a congestion phase following a Homing Pigeon pattern.The reliability of the Bullish Homing Pigeon is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Homing Pigeon Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 27.42
Williams' Percentage Range (W%R) 74.90
Lane's Stochastic (%D-Slow) 23.06
Greed/Fear Indicator (GFI) 25.20
Moving Average Converg./Diverg. (MACD) 0.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.05
Williams' Percentage Range (W%R) 63.40
Lane's Stochastic (%D-Slow) 78.46
Greed/Fear Indicator (GFI) 56.64
Moving Average Converg./Diverg. (MACD) 2.32
Trading Signals
Description Value Chart
Monthly Trendline Resistance 82.03
Upper Bollinger Band 81.82
Weekly Stochastic Crossing 78.44
20 Day Moving Average 78.41
Quarterly Trendline Resistance 78.03
Parabolic System 76.83
50 Day Moving Average 76.67
Daily Stochastic Crossing 73.93
Price 73.81
Monthly Trendline Support 72.98
Lower Bollinger Band 72.56
Quarterly Trendline Support 71.74
Yearly Trendline Resistance 71.17
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 80.96
High Date 01/29/2018
Low 71.49
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 80.96
High Date 01/29/2018
Low 71.49
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 82.03
Support 72.98
Low 66.95
Low Date 08/21/2017
High 80.96
High Date 01/29/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 78.03
Support 71.74
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 Broken Resistance
Resistance 71.17
Support 58.46
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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