The Greedy Trader Weekly Analysis
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Archive
- 5/26/2023 -
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S&P 500 (^GSPC)

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtMACD bearish divergenceBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaThe price has fallen below the Parabolic SARThe price touches the upper Bollinger BandThe period of low volatility of the stock price
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It was a second consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 13.47 points, or 0.32%, and closed at 4205.45 on Friday, May 26, 2023. Weekly volume was -22% below average.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term downtrend had started on January 4, 2022 at 4818.62 and reached 3491.58 on October 13, 2022. ^GSPC lost 1327.04 points, or 27.54%, in 40 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (3213.56) is broken. A broken support is considered to be a long-term bullish signal. 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 October 13, 2022 at 3491.58 and reached 4212.91 on May 19, 2023. ^GSPC gained -721.33 points, or -20.66%, in 31 weeks. Price is near the trend high.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD 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 and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 4, 2022. 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 ^GSPC short-term trend chart]
A short-term uptrend had started on May 4, 2023 at 4048.28 and reached 4212.91 on May 19, 2023. ^GSPC gained -164.63 points, or -4.07%, in 15 days. Price is near the trend high.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since May 25, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

The price touches the upper Bollinger Band. The distance between the Bollinger Bands is falling, and it was 3.41% on Friday. It is 60.31% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.56
Williams' Percentage Range (W%R) 34.50
Lane's Stochastic (%D-Slow) 54.76
Greed/Fear Indicator (GFI) 59.95
Moving Average Converg./Diverg. (MACD) 18.09
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.70
Williams' Percentage Range (W%R) 13.80
Overbought
Lane's Stochastic (%D-Slow) 84.69
Overbought
Greed/Fear Indicator (GFI) 75.77
Moving Average Converg./Diverg. (MACD) 30.71 Bearish
Trading Signals
Description Value Chart
Parabolic System 4217.08
Upper Bollinger Band 4216.19
Price 4205.45
Weekly Stochastic Crossing 4187.76
Daily Stochastic Crossing 4156.15
20 Day Moving Average 4141.52
50 Day Moving Average 4100.06
Lower Bollinger Band 4072.67
Quarterly Trendline Resistance 3697.39
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 4048.28
Low Date 05/04/2023
High 4212.91
High Date 05/19/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 3808.86
Low Date 03/13/2023
High 4212.91
High Date 05/19/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 3491.58
Low Date 10/13/2022
High 4212.91
High Date 05/19/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 3697.39
Support 3213.56
High 4818.62
High Date 01/04/2022
Low 3491.58
Low Date 10/13/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 666.79
Low Date 03/06/2009
High 4818.62
High Date 01/04/2022
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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