- 10/16/2020 -
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S&P 500 (^GSPC)
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|It was a third positive week after 4 consecutive negative weeks for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 6.67 points, or 0.19%, and closed at 3483.81 on Friday, October 16, 2020. Weekly volume was -41% 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 3588.11 on September 2, 2020. ^GSPC gained -2921.32 points, or -438.12%, in 599 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2721.17) 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 March 23, 2020 at 2191.86 and reached 3588.11 on September 2, 2020. ^GSPC gained -1396.25 points, or -63.70%, in 23 weeks. The price is now at the 7.47% retracement level.
Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since May 15, 2020. 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 September 24, 2020 at 3209.45 and reached 3549.85 on October 12, 2020. ^GSPC gained -340.40 points, or -10.61%, in 18 days. The price is now at the 19.40% retracement level.
Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since September 30, 2020. This is an indication that the short-term trend is up.
A Parabolic SAR (stop and reversal) indicator (3457.68) comes close to the price (3483.81). 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.