The Greedy Trader Weekly Analysis
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Stock Market Trend Analysis Newsletter.

The Stock Market Week - 10/10/2008
On September 9th, when S&P 500 index was at 1,242.31, we suggested that, the S&P 500 is now in sub wave three of the third down wave, which is considered the worse in the five-wave structure. In one month index lost 27.6% and closed on Friday at 899.22. The Standard & Poor's 500 index had suffered its worst week since 1933.

All the major US indices were negative. For the week the Dow Jones Industrial Average dropped 1874.19 points, or 18.15%. The Standard & Poor's 500 Index dropped 200.01 points, or 18.20%, while the Nasdaq Composite dropped 297.88 points, or 15.30%.

The Consumer Staples sector has traditionally performed better than the stock market during market declines. The Consumer Staples sector was the strongest sector last week for the second week in a row, followed by the Technology sector. The Energy sector was the worst performing sector of the week followed by the Utilities sector.

The Financial sector is the most overvalued sector now, followed by, Consumer Goods, while Tobacco Products Other, Regional-Mid-Atlantc Bnks, Home Improvement Stores, and Cleaning Products are the most overvalued industries.

Conglomerates is the most oversold sector, followed by Basic Materials while Processing Systems/Prods, Aluminum, Metals Fabrication, Personal Computers are the most overvalued industries.
Dow Jones Industrial Average Trend Analysis
Three months ago in our publication on July 11th we suggested that Dow Jones Industrial Average long-term chart has formed a head and shoulders pattern. The price was at 11,100.54 then, and the pattern price target was approximately 9000, that three month back sound like a very pessimistic prediction. Last week Dow Jones dived below 9000 level and close on Friday at 8,451.19. The sharp price drop moved daily William's Percentage Range (W%R) into oversold area, while weekly W%R is strongly oversold. The oversold W%R is usually considered as an early warning indicator that signals exhaustion of the sharp down trend and predicts that it may slow down and reverse soon. Daily and weekly Relative Strength Index and Lane's Stochastic indicators are still neutral.
Dow Jones Industrial Average - Long-Term Trend
Technical Stock Market Timing System
Standard & Poor's 500 Index Trend Analysis
Standard & Poor's 500 Index is in a long-term down trend that started on 10/11/2007 at 1576.09. The chart has formed a falling channel pattern. The third wave down is in progress now. It has started on 5/19/2008 and it is now forming a sub wave three down as well. According to this wave count, the S&P 500 is now in sub wave three of the third down wave. This sub wave is considered the worse in the five-wave structure. The support line is broken. Daily and weekly William's Percentage Ranges and daily Relative Strength Index are oversold, while daily Lane's Stochastic indicator is strongly oversold. According to the technical indicators, the sub wave three might be close to completion.
Standard & Poor's 500 - Long-Term Trend
Technical Stock Market Timing System
Nasdaq Composite Index Trend Analysis
As we suggested previously, the Nasdaq Composite index had formed the long-term symmetric triangle chart pattern with sharp breakdown. The price target for a triangle pattern is usually derived by measuring the distance between the starting high point of the ascending triangle with the starting low point of the triangle, which is then projected downward from the breakpoint. According to our calculation, the projected price target should be around 1640. The Nasdaq Composite index price hit 1542.45 low on Friday. Daily Relative Strength Index and weekly Lane's Stochastic indicators are oversold, while daily and weekly William's Percentage Ranges and daily Lane's Stochastic indicators are strongly oversold. The sharp breakdown from the long-term symmetric triangle chart pattern could be close to completion.
Nasdaq Composite Index - Long-Term Trend
Technical Stock Market Timing System
Presented by www.thegreedytrader.com Research Group.
The Dow Jones has formed a Triangle chart pattern
The Dow Jones quarterly wave has formed a Triangle chart pattern. The triangle resistance line is broken. Price is retesting the former resistance line.
Sep 17, 2023
The Dow Jones has formed the Elliott Wave Impulse Wave pattern
Almost 6% of S&P 500 component stocks have strongly oversold weekly Lane's Stochastic. It is the highest level since April 03, 2020.
Oct 02, 2022
The S&P 500 - fifth consecutive negative week
More than 40% of S&P 500 component stocks have oversold weekly Williams' Percentage Range (W%R). It is the highest level since March 20, 2020.
May 08, 2022
The NASDAQ price is near the quarterly rising rhannel support level.
The Dow Jones price is near the 200 Day Moving Average.
Dec 04, 2021
The highest number of strongly overbought stocks since January
The NASDAQ Composite index has formed the Rising Channel chart pattern, and price is near the resistance level.
Aug 29, 2020
Bear market correction can be mistaken for the start of a new upswing.
Weekly uptrend has formed a Rising Wedge chart pattern. The Rising Wedge in downtrend indicates that higher level downtrend is not over yet.
Apr 17, 2020
Reduce the risk and use some stop losses techniques
S&P 500 Elliot Wave's cycle consists of eight waves; the five-wave motive phase followed by three-wave corrective phase.
Apr 12, 2020
The Best Trading Strategies for the Trending Market
S&P 500 Elliot Waves Analysis: falling channel has a five sub-waves impulse structure.
Mar 22, 2020
S&P 500 Bearish Trend Analysis
What to expect if the S&P breaks the long term rising channel support trendline.
Mar 14, 2020
S&P 500 Rising Wedge Breakdown
The S&P 500 intermediate trend Rising Wedge breakdown caused the biggest weekly loss since October 2008.
Mar 1 , 2020
NASDAQ biggest weekly advance
It was the biggest weekly NASDAQ advance recorded. More than 30% of S&P members are trading at their highest price in the past 52 weeks.
Jan 7 , 2018
Eighth consecutive positive week
It was the eighth consecutive positive week for S&P 500 index. More than 40% of S&P 500 component stocks have overbought weekly Lane's Stochastic. It is the highest level since April 29, 2016.
Nov 5 , 2017
ETF's Currency Shares Alert.
CurrencyShares Swedish Krona Trust (FXS) weekly downtrend reached 116.62 on September 27, making the biggest weekly drop since October 2015.
Sep 24, 2017
Dow Jones Industrial Average monthly uptrend - five-wave structure.
The Dow Jones Industrial Average monthly uptrend has formed a five-wave structure. It started on April 19, 2017 at 20,379.55 and reached 22,419.51 on September 21, 2017.
Sep 24, 2017
Sixth consecutive positive week for the S&P 500.
Almost 56% of S&P 500 component stocks have overbought weekly Williams' Percentage Range. It is the highest level since December 26, 2014.
Mar 5 , 2017
Third consecutive negative week for the Dow Jones
Almost 40% of S&P 500 component stocks have oversold daily Lane's Stochastic. It is a highest level since November 16, 2012.
Mar 15, 2015
Dow Jones is near 200 Day Moving Average
During the past week, Dow Jones Industrial Average sank 507.65 points or 2.87%, to 17164.95. Williams' Percentage Range and Lane's Stochastic are overbought in a monthly time frame. The Dow Jones price is near 200 Day Moving Average.
Feb 1 , 2015
S&P 500 at highest level since Oct 2007
The major indices and more than a half of S&P 500 members are strongly overbought in daily, weekly, and monthly time frames.
Mar 17, 2013
S&P 500 members Downtrend Resistance Alert
Dow Jones, NASDAQ, and More than 40% of S&P 500 members have the Downtrend Resistance Alert.
Oct 30, 2011
The short-term rally is over
S&P 500 index may break the support around 1100 and move down to the next support area around 1000 - 950.
Sep 5 , 2011
S&P 500 is close to the 50 Day Moving Average
S&P 500 index has fallen below the Parabolic SAR (stop and reversal). Price is close to the 50 Day Moving Average.
Mar 13, 2011
S&P 500 index wave's structure
S&P 500 medium-term uptrend has a five wave's structure. The fifth sub wave is near completion.
Dec 26, 2010
Monthly W%R is strongly overbought for the first time since October 2007
The S&P 500 technical indicators are pretty close to the beginning of October 2007, just a week prior the beginning of the bear market of 2007-2009.
Oct 17, 2010
More than a half of S&P 500 members are overbought
More than 10% of S&P 500 index members made a new 52-week high, but almost a half of them closed this week below the previous week's close.
Sep 12, 2010
S&P 500 members - Trend Support Alert
Daily and weekly indicators are oversold for all three major US indices. More than 28% of S&P members are oversold, and more than 22% have a Trend Support Alert.
Jul 4 , 2010
S&P 500 members - Downtrend Resistance alert
More than 60 S&P members have the Downtrend Resistance Alert. Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought.
Jun 20, 2010
S&P 500 members - uptrend support alert
More than 30% of S&P 500 members have an uptrend support alert. This alert indicates that stock price is near the monthly uptrend support level.
May 23, 2010
Dow Jones Elliott Wave count
Dow Jones gained 68.03% in 53 weeks. The chart has formed a Rising Channel chart pattern. Fifth wave up is in progress.
Mar 21, 2010
NASDAQ at the highest level since September 2008
NASDAQ medium-term trend has formed a five-wave structure. The fifth wave is in progress now. The price is near the trend resistance line (2331.43).
Mar 5 , 2010
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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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