The Greedy Trader Weekly Analysis
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Archive
- 5/10/2019
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Financial Select Sector SPDR
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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineTrend resistance at 27.84
Daily :Broken trend support lineStochastic signal line moved below overbought areaDaily  MACD line has moved below its signal line
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It was the negative week for the Financial Select Sector SPDR (XLF). During the week, the XLF dropped -0.59 points, or -2.10%, and closed at 27.48 on Friday, May 10, 2019. It was the worst weekly loss since March 22, 2019. Weekly volume was -10% below average.

Long-term trend: [See XLF long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 5.88 and reached 30.33 on January 29, 2018. XLF gained -24.45 points, or -415.82%, in 464 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 25.47 and resistance is at 33.09. 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 XLF medium-term trend chart]
A medium-term downtrend had started on January 29, 2018 at 30.33 and reached 22.05 on December 26, 2018. XLF lost 8.28 points, or 27.30%, in 47 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (27.84). 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 medium-term trend.

Weekly Technical Indicators: [See XLF weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and 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 XLF short-term trend chart]
A short-term uptrend had started on March 25, 2019 at 25.08 and reached 28.14 on May 1, 2019. XLF gained -3.06 points, or -12.20%, in 37 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (28.16) is broken. A broken support is considered to be a long-term bearish 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 support in a short-term trend.

Daily Technical Indicators: [See XLF 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.82
Williams' Percentage Range (W%R) 79.80
Lane's Stochastic (%D-Slow) 37.81
Greed/Fear Indicator (GFI) 37.60
Moving Average Converg./Diverg. (MACD) 0.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.73
Williams' Percentage Range (W%R) 16.30
Overbought
Lane's Stochastic (%D-Slow) 86.91
Overbought
Greed/Fear Indicator (GFI) 75.54
Moving Average Converg./Diverg. (MACD) -0.04
Trading Signals
Description Value Chart
Weekly Trendline Resistance 29.06
Monthly Trendline Resistance 28.34
Weekly Trendline Support 28.16
Upper Bollinger Band 27.98
Weekly Stochastic Crossing 27.85
Quarterly Trendline Resistance 27.84
Parabolic System 27.78
20 Day Moving Average 27.53
Price 27.48
Daily Stochastic Crossing 27.26
Lower Bollinger Band 26.79
50 Day Moving Average 26.75
Yearly Trendline Support 25.47
Monthly Trendline Support 25.10
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 28.14
High Date 05/01/2019
Low 26.90
Low Date 05/09/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 29.06
Support 28.16
Low 25.08
Low Date 03/25/2019
High 28.14
High Date 05/01/2019
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 28.34
Support 25.10
Low 22.05
Low Date 12/26/2018
High 28.14
High Date 05/01/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 27.84
Support 18.85
High 30.33
High Date 01/29/2018
Low 22.05
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 33.09
Support 25.47
Low 5.88
Low Date 03/06/2009
High 30.33
High Date 01/29/2018
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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