The Greedy Trader Weekly Analysis
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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 support at 2880.28
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price is close to 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 -29.84 points, or -1.03%, and closed at 2871.68 on Friday, September 07, 2018. It was the worst weekly loss since June 29, 2018. Weekly volume was -11% 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 2916.50 on August 29, 2018. ^GSPC gained -2249.71 points, or -337.39%, in 494 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2314.65) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 February 11, 2016 at 1810.10 and reached 2916.50 on August 29, 2018. ^GSPC gained -1106.40 points, or -61.12%, in 132 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (2880.28) line. The support is usually stronger when technical indicators are oversold. 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 support 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 July 6, 2018. This is an indication that the medium-term trend is up. 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 June 28, 2018 at 2691.99 and reached 2916.50 on August 29, 2018. ^GSPC gained -224.51 points, or -8.34%, in 62 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 2855.29 and resistance is at 2937.18. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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.

The price is close to 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) 59.05
Williams' Percentage Range (W%R) 42.30
Lane's Stochastic (%D-Slow) 48.62
Greed/Fear Indicator (GFI) 55.12
Moving Average Converg./Diverg. (MACD) 20.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.55
Williams' Percentage Range (W%R) 15.00
Overbought
Lane's Stochastic (%D-Slow) 90.73
Strong Overbought
Greed/Fear Indicator (GFI) 77.53
Moving Average Converg./Diverg. (MACD) 44.33
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 3023.19
Weekly Trendline Resistance 2937.18
Upper Bollinger Band 2925.56
Parabolic System 2919.42
Weekly Stochastic Crossing 2902.94
Daily Stochastic Crossing 2886.00
Quarterly Trendline Support 2880.28
Price 2871.68
20 Day Moving Average 2868.19
Weekly Trendline Support 2855.29
50 Day Moving Average 2827.32
Lower Bollinger Band 2814.59
Yearly Trendline Resistance 2651.48
Yearly Trendline Support 2314.65
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 2916.50
High Date 08/29/2018
Low 2864.12
Low Date 09/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 2937.18
Support 2855.29
Low 2691.99
Low Date 06/28/2018
High 2916.50
High Date 08/29/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2532.69
Low Date 02/09/2018
High 2916.50
High Date 08/29/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 3023.19
Support 2880.28
Low 1810.10
Low Date 02/11/2016
High 2916.50
High Date 08/29/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2651.48
Support 2314.65
Low 666.79
Low Date 03/06/2009
High 2916.50
High Date 08/29/2018
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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