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- 11/8/2019 -
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S&P 500 (^GSPC)

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtMACD bearish divergenceA Parabolic SAR indicator is above and near the price
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It was a fifth positive week after 3 consecutive negative weeks for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 26.17 points, or 0.85%, and closed at 3093.08 on Friday, November 8, 2019. Weekly volume was -23% below average.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 666.79 and reached 3097.77 on November 7, 2019. ^GSPC gained -2430.98 points, or -364.58%, in 556 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2538.10) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 December 26, 2018 at 2346.58 and reached 3097.77 on November 7, 2019. ^GSPC gained -751.19 points, or -32.01%, in 45 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 3059.95 and resistance is at 3119.06. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.

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. 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 October 25, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 August 5, 2019 at 2822.12 and reached 3097.77 on November 7, 2019. ^GSPC gained -275.65 points, or -9.77%, in 94 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 2877.22 and resistance is at 3130.93. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

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

The daily MACD line is above its signal line since October 14, 2019. 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.

A Parabolic SAR (stop and reversal) indicator (3072.22) comes close to the price (3093.08). It indicates that the trend is getting weaker. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.15
Overbought
Williams' Percentage Range (W%R) 12.20
Overbought
Lane's Stochastic (%D-Slow) 89.37
Overbought
Greed/Fear Indicator (GFI) 86.09
Overbought
Moving Average Converg./Diverg. (MACD) 25.87 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.23
Williams' Percentage Range (W%R) 6.00
Strong Overbought
Lane's Stochastic (%D-Slow) 84.28
Overbought
Greed/Fear Indicator (GFI) 80.00
Moving Average Converg./Diverg. (MACD) 38.80
Trading Signals
Description Value Chart
Weekly Trendline Resistance 3130.93
Monthly Trendline Resistance 3119.06
Upper Bollinger Band 3109.52
Price 3093.08
Daily Stochastic Crossing 3089.24
Weekly Stochastic Crossing 3077.88
Parabolic System 3072.22
Monthly Trendline Support 3059.95
20 Day Moving Average 3030.56
50 Day Moving Average 2990.62
Lower Bollinger Band 2959.91
Yearly Trendline Resistance 2886.03
Weekly Trendline Support 2877.22
Yearly Trendline Support 2538.10
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 2855.94
Low Date 10/03/2019
High 3097.77
High Date 11/07/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 3130.93
Support 2877.22
Low 2822.12
Low Date 08/05/2019
High 3097.77
High Date 11/07/2019
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 3119.06
Support 3059.95
Low 2346.58
Low Date 12/26/2018
High 3097.77
High Date 11/07/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1810.10
Low Date 02/11/2016
High 3097.77
High Date 11/07/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2886.03
Support 2538.10
Low 666.79
Low Date 03/06/2009
High 3097.77
High Date 11/07/2019
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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