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|It was a first positive week after 4 consecutive negative weeks for the S&P 500 (^GSPC). During the week, the ^GSPC gained 121.28 points, or 4.41%, and closed at 2873.34 on Friday, June 7, 2019. ^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 2954.13 on May 1, 2019. ^GSPC gained -2287.34 points, or -343.04%, in 529 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2462.20) 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 downtrend had started on May 1, 2019 at 2954.13 and reached 2728.81 on June 3, 2019. ^GSPC lost 225.32 points, or 7.63%, in 4 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 June 3, 2019 at 2728.81 and reached 2884.97 on June 7, 2019. ^GSPC gained -156.16 points, or -5.72%, in 4 days. The price is now at the 7.45% retracement level.
Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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 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.