The Greedy Trader Weekly Analysis
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Archive
- 1/11/2019
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S&P 500
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Summary:
Weekly :
Daily :Lane's Stochastic is strongly overboughtThe price moved above the moving average in the center of the Bollinger Bands
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It was a third positive week after 3 consecutive negative weeks for the S&P 500 (^GSPC). During the week, the ^GSPC gained 64.32 points, or 2.54%, and closed at 2596.26 on Friday, January 11, 2019. Weekly volume was 7% 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 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 trend support level is at 2374.12 and resistance is at 2710.94. 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 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 trend support level is at 2274.10 and resistance is at 2651.28. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since October 5, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 December 26, 2018 at 2346.58 and reached 2597.82 on January 10, 2019. ^GSPC gained -251.24 points, or -10.71%, in 15 days. Price is near the trend high.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Lane's Stochastic. 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 Lane's Stochastic help.

The daily MACD line is above its signal line since December 31, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the price has moved above 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) 63.07
Williams' Percentage Range (W%R) 25.40
Lane's Stochastic (%D-Slow) 96.63
Strong Overbought
Greed/Fear Indicator (GFI) 78.11
Moving Average Converg./Diverg. (MACD) -38.42
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.42
Williams' Percentage Range (W%R) 59.40
Lane's Stochastic (%D-Slow) 24.57
Greed/Fear Indicator (GFI) 36.99
Moving Average Converg./Diverg. (MACD) -25.13
Trading Signals
Description Value Chart
Yearly Trendline Resistance 2710.94
Upper Bollinger Band 2696.18
Monthly Trendline Resistance 2651.28
50 Day Moving Average 2635.06
Price 2596.26
Daily Stochastic Crossing 2594.22
20 Day Moving Average 2521.28
Parabolic System 2500.91
Weekly Stochastic Crossing 2464.94
Lower Bollinger Band 2417.39
Yearly Trendline Support 2374.12
Monthly Trendline Support 2274.10
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 2443.96
Low Date 01/03/2019
High 2597.82
High Date 01/10/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2346.58
Low Date 12/26/2018
High 2597.82
High Date 01/10/2019
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 2651.28
Support 2274.10
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 Valid
Resistance 2710.94
Support 2374.12
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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