The Greedy Trader Weekly Analysis
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Uptrend Broken Support
Uptrend Broken Support 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. Stock market alert is a warning signal. Uptrend Broken Support alert is a confirmation that long term uptrend reversal is completed and a new downtrend 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 support trendline. This point is considered as a second chance to sell long position (or open short positions) in uptrend reversal.
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Industrial Select Sector SPDR (XLI)

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Summary:
Weekly :Broken trend support lineTrend resistance at 95.21
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtThe price is above the upper Bollinger BandBroken trend resistance line
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It was a second positive week after 3 consecutive negative weeks for the Industrial Select Sector SPDR (XLI). During the week, the XLI gained 5.19 points, or 5.74%, and closed at 95.64 on Friday, July 29, 2022. It was the best weekly gain since May 27, 2022. Weekly volume was -38% below average.

Long-term trend: [See XLI long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 15.14 and reached 107.88 on January 5, 2022. XLI gained -92.74 points, or -612.55%, in 669 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (95.21). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See XLI medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 47.71 and reached 107.88 on January 5, 2022. XLI gained -60.17 points, or -126.12%, in 93 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (124.17) 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 XLI weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since November 26, 2021. 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 XLI short-term trend chart]
A short-term downtrend had started on March 30, 2022 at 105.23 and reached 84.28 on July 14, 2022. XLI lost 20.95 points, or 19.91%, in 106 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (83.13) 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. XLI 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 XLI daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. 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 daily MACD line is above its signal line since June 29, 2022. The distance between MACD and the signal line is near its high and getting bigger.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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) 78.61
Williams' Percentage Range (W%R) 18.20
Overbought
Lane's Stochastic (%D-Slow) 93.95
Strong Overbought
Greed/Fear Indicator (GFI) 84.80
Overbought
Moving Average Converg./Diverg. (MACD) 0.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.45
Williams' Percentage Range (W%R) 54.80
Lane's Stochastic (%D-Slow) 32.07
Greed/Fear Indicator (GFI) 42.33
Moving Average Converg./Diverg. (MACD) -2.96
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 108.79
Price 95.64
Daily Stochastic Crossing 95.44
Upper Bollinger Band 95.33
Yearly Trendline Resistance 95.21
Weekly Trendline Resistance 91.30
Parabolic System 91.15
50 Day Moving Average 90.07
20 Day Moving Average 89.02
Weekly Stochastic Crossing 88.83
Lower Bollinger Band 84.89
Weekly Trendline Support 83.13
Yearly Trendline Support 79.85
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 84.28
Low Date 07/14/2022
High 95.84
High Date 07/29/2022
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 91.30
Support 83.13
High 105.23
High Date 03/30/2022
Low 84.28
Low Date 07/14/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 107.88
High Date 01/05/2022
Low 84.28
Low Date 07/14/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 108.79
Support 124.17
Low 47.71
Low Date 03/23/2020
High 107.88
High Date 01/05/2022
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 95.21
Support 79.85
Low 15.14
Low Date 03/06/2009
High 107.88
High Date 01/05/2022
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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