The Greedy Trader Weekly Analysis
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Archive
- 3/8/2019
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S&P 500
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Summary:
Weekly :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal lineBroken trend resistance lineTrend resistance at 2737.22
Daily :Price is near the Fibonacci 23.6% retracement levelThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the S&P 500 (^GSPC). During the week, the ^GSPC dropped -60.62 points, or -2.16%, and closed at 2743.07 on Friday, March 8, 2019. It was the worst weekly loss since December 21, 2018. ^GSPC was trading at average weekly trading volume.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 666.79 and reached 2940.91 on September 21, 2018. ^GSPC gained -2274.12 points, or -341.05%, in 498 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (2737.22). 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 ^GSPC medium-term trend chart]
A medium-term downtrend had started on September 21, 2018 at 2940.91 and reached 2346.58 on December 26, 2018. ^GSPC lost 594.33 points, or 20.21%, in 13 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (2023.73) 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 medium-term trend.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly 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 weekly Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 February 1, 2019. 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 March 4, 2019 at 2816.88 and reached 2722.27 on March 8, 2019. ^GSPC lost 94.61 points, or 3.36%, in 4 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since February 27, 2019. This is an indication that the short-term trend is down.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.64
Williams' Percentage Range (W%R) 63.70
Lane's Stochastic (%D-Slow) 28.86
Greed/Fear Indicator (GFI) 34.25
Moving Average Converg./Diverg. (MACD) 32.60
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.94
Williams' Percentage Range (W%R) 18.30
Overbought
Lane's Stochastic (%D-Slow) 91.62
Strong Overbought
Greed/Fear Indicator (GFI) 75.86
Moving Average Converg./Diverg. (MACD) -24.66
Trading Signals
Description Value Chart
Upper Bollinger Band 2811.60
Parabolic System 2810.82
Weekly Stochastic Crossing 2801.25
20 Day Moving Average 2769.26
Daily Stochastic Crossing 2743.63
Price 2743.07
Yearly Trendline Resistance 2737.22
Lower Bollinger Band 2701.89
50 Day Moving Average 2673.93
Monthly Trendline Resistance 2506.47
Yearly Trendline Support 2400.39
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 2816.88
High Date 03/04/2019
Low 2722.27
Low Date 03/08/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2346.58
Low Date 12/26/2018
High 2816.88
High Date 03/04/2019
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 2506.47
Support 2023.73
High 2940.91
High Date 09/21/2018
Low 2346.58
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1810.10
Low Date 02/11/2016
High 2940.91
High Date 09/21/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 2737.22
Support 2400.39
Low 666.79
Low Date 03/06/2009
High 2940.91
High Date 09/21/2018
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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