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Downtrend Broken Resist.Archive
- 9/6/2024 -
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S&P 500 (^GSPC) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the S&P 500 (^GSPC). During the week, the ^GSPC dropped -239.98 points, or -4.25%, and closed at 5408.42 on Friday, September 6, 2024. ^GSPC was trading at average weekly trading volume.
 Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 3491.58 and reached 5669.67 on July 16, 2024. ^GSPC gained -2178.09 points, or -62.38%, in 91 weeks. The price is now at the 11.99% retracement level.
 Medium-term trend: [See ^GSPC medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 5119.26 and reached 5651.62 on August 26, 2024. ^GSPC gained -532.36 points, or -10.40%, in 3 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (5883.31) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
 Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since July 26, 2024. 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 August 26, 2024 at 5651.62 and reached 5402.62 on September 6, 2024. ^GSPC lost 249.00 points, or 4.41%, in 11 days. Price is near the trend low.
Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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.
During the last week, the price has declined below 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 20 Day Moving Average 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.
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