The Greedy Trader Weekly Analysis
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- 9/20/2024 -
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S&P 500 (^GSPC) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index and Lane's Stochastic bearish divergence
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index and MACD bearish divergence
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It was a second consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC gained 76.53 points, or 1.36%, and closed at 5702.55 on Friday, September 20, 2024. Weekly volume was 13% above average.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 3491.58 and reached 5733.57 on September 19, 2024. ^GSPC gained -2241.99 points, or -64.21%, in 101 weeks. Price is near the trend high.

Medium-term trend: [See ^GSPC medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 5119.26 and reached 5733.57 on September 19, 2024. ^GSPC gained -614.31 points, or -12.00%, in 6 weeks. The price is now at the 5.05% retracement level.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly 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 weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Relative Strength Index and Lane's Stochastic have bearish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is below its signal line since July 26, 2024. 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 September 6, 2024 at 5402.62 and reached 5733.57 on September 19, 2024. ^GSPC gained -330.95 points, or -6.13%, in 13 days. The price is now at the 9.37% retracement level.

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. Daily Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and MACD bearish divergence.

The daily MACD line is above its signal line since September 12, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.60
Bearish
Williams' Percentage Range (W%R) 7.20
Strong Overbought
Lane's Stochastic (%D-Slow) 88.93
Overbought
Greed/Fear Indicator (GFI) 78.76
Moving Average Converg./Diverg. (MACD) 29.88 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.41
Bearish
Williams' Percentage Range (W%R) 3.30
Strong Overbought
Lane's Stochastic (%D-Slow) 83.89
Overbought Bearish
Greed/Fear Indicator (GFI) 78.31
Moving Average Converg./Diverg. (MACD) 159.55
Trading Signals
Description Value Chart
Upper Bollinger Band 5736.18
Price 5702.55
Daily Stochastic Crossing 5689.47
Weekly Stochastic Crossing 5632.04
20 Day Moving Average 5585.76
Parabolic System 5525.97
50 Day Moving Average 5518.11
Lower Bollinger Band 5433.62
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 5402.62
Low Date 09/06/2024
High 5733.57
High Date 09/19/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 5119.26
Low Date 08/05/2024
High 5733.57
High Date 09/19/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 4103.78
Low Date 10/27/2023
High 5733.57
High Date 09/19/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 3491.58
Low Date 10/13/2022
High 5733.57
High Date 09/19/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 666.79
Low Date 03/06/2009
High 5733.57
High Date 09/19/2024
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.