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- 3/20/2020 -
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S&P 500 (^GSPC)

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Summary:
Weekly :Williams' Percentage Range is oversoldLane's Stochastic bullish divergenceBroken trend support lineBroken trend support line
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldMACD bullish divergenceThe Bollinger Bands are historically far apart
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It was the negative week for the S&P 500 (^GSPC). During the week, the ^GSPC dropped -406.10 points, or -14.98%, and closed at 2304.92 on Friday, March 20, 2020. Weekly volume was 37% above 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 3393.52 on February 19, 2020. ^GSPC gained -2726.73 points, or -408.93%, in 571 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (2577.14) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ^GSPC may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.

Medium-term trend: [See ^GSPC medium-term trend chart]
A medium-term uptrend had started on February 11, 2016 at 1810.10 and reached 3393.52 on February 19, 2020. ^GSPC gained -1583.42 points, or -87.48%, in 209 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (2580.72) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ^GSPC may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 below its signal line since February 21, 2020. The distance between MACD and the signal line is near its high and getting bigger. 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 February 19, 2020 at 3393.52 and reached 2280.52 on March 18, 2020. ^GSPC lost 1113.00 points, or 32.80%, in 28 days. Price is near the trend low.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Daily MACD has bullish 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 bullish divergence.

The daily MACD line is below its signal line since February 20, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

The distance between the Bollinger Bands (50.35%) is close to one year high (36.72%). It is 738.34% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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) 31.12
Williams' Percentage Range (W%R) 84.50
Oversold
Lane's Stochastic (%D-Slow) 13.09
Oversold
Greed/Fear Indicator (GFI) 19.89
Oversold
Moving Average Converg./Diverg. (MACD) -173.72 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 21.98
Williams' Percentage Range (W%R) 86.40
Oversold
Lane's Stochastic (%D-Slow) 30.56
Bullish
Greed/Fear Indicator (GFI) 26.76
Moving Average Converg./Diverg. (MACD) 57.26
Trading Signals
Description Value Chart
Upper Bollinger Band 3344.42
50 Day Moving Average 3113.83
20 Day Moving Average 2810.65
Quarterly Trendline Support 2580.72
Yearly Trendline Support 2577.14
Weekly Stochastic Crossing 2454.33
Parabolic System 2451.32
Daily Stochastic Crossing 2368.78
Price 2304.92
Lower Bollinger Band 2183.76
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 2711.33
High Date 03/13/2020
Low 2280.52
Low Date 03/18/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 3393.52
High Date 02/19/2020
Low 2280.52
Low Date 03/18/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2346.58
Low Date 12/26/2018
High 3393.52
High Date 02/19/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 3434.16
Support 2580.72
Low 1810.10
Low Date 02/11/2016
High 3393.52
High Date 02/19/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 2973.63
Support 2577.14
Low 666.79
Low Date 03/06/2009
High 3393.52
High Date 02/19/2020
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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