The Greedy Trader Weekly Analysis
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Number of records: 10
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

S&P 500 (^GSPC)

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overbought
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtPrice has crossed above the 50 Day Moving AverageBroken trend resistance line
Move cursor over the icon to see details.

It was a second positive week after 4 consecutive negative weeks for the S&P 500 (^GSPC). During the week, the ^GSPC gained 52.25 points, or 1.79%, and closed at 2978.71 on Friday, September 6, 2019. Weekly volume was -9% below average.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 666.79 and reached 3027.98 on July 26, 2019. ^GSPC gained -2361.19 points, or -354.11%, in 542 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2506.48) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 December 26, 2018 at 2346.58 and reached 3027.98 on July 26, 2019. ^GSPC gained -681.40 points, or -29.04%, in 30 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 2965.93 and resistance is at 3063.67. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See ^GSPC 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. 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 Williams' Percentage Range help.

The weekly MACD line is below its signal line since August 9, 2019. 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 downtrend had started on July 26, 2019 at 3027.98 and reached 2822.12 on August 5, 2019. ^GSPC lost 205.86 points, or 6.80%, in 10 days. The chart has formed a Ascending Triangle chart pattern. The downtrend resistance line (2831.87) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ^GSPC may retest the broken resistance line. It is considered to be a support line now. 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 Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since August 28, 2019.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.87
Williams' Percentage Range (W%R) 3.40
Strong Overbought
Lane's Stochastic (%D-Slow) 87.99
Overbought
Greed/Fear Indicator (GFI) 82.47
Overbought
Moving Average Converg./Diverg. (MACD) -7.49
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.77
Williams' Percentage Range (W%R) 15.90
Overbought
Lane's Stochastic (%D-Slow) 42.15
Greed/Fear Indicator (GFI) 60.05
Moving Average Converg./Diverg. (MACD) 43.26
Trading Signals
Description Value Chart
Monthly Trendline Resistance 3063.67
Upper Bollinger Band 2997.29
Price 2978.71
Daily Stochastic Crossing 2970.31
Monthly Trendline Support 2965.93
50 Day Moving Average 2946.48
20 Day Moving Average 2905.42
Weekly Stochastic Crossing 2905.42
Parabolic System 2882.62
Yearly Trendline Resistance 2854.40
Lower Bollinger Band 2847.79
Weekly Trendline Support 2831.87
Weekly Trendline Resistance 2823.36
Yearly Trendline Support 2506.48
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Low 2822.12
Low Date 08/05/2019
High 2985.86
High Date 09/05/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 2823.36
Support 2831.87
High 3027.98
High Date 07/26/2019
Low 2822.12
Low Date 08/05/2019
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 3063.67
Support 2965.93
Low 2346.58
Low Date 12/26/2018
High 3027.98
High Date 07/26/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1810.10
Low Date 02/11/2016
High 3027.98
High Date 07/26/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2854.40
Support 2506.48
Low 666.79
Low Date 03/06/2009
High 3027.98
High Date 07/26/2019
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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