The Greedy Trader Weekly Analysis
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Archive
- 2/8/2019
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Industrial Select Sector SPDR
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Summary:
Weekly :Broken trend support lineWeekly  MACD line has moved above its signal line
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal lineBroken trend resistance line
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It was a second consecutive positive week for the Industrial Select Sector SPDR (XLI). During the week, the XLI gained 1.19 points, or 1.66%, and closed at 73.07 on Friday, February 8, 2019. Weekly volume was -10% below average.

Long-term trend: [See XLI long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 15.14 and reached 80.96 on January 29, 2018. XLI gained -65.82 points, or -434.74%, in 464 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 63.25 and resistance is at 75.96. 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 XLI medium-term trend chart]
A medium-term uptrend had started on January 20, 2016 at 46.82 and reached 80.96 on January 29, 2018. XLI gained -34.14 points, or -72.92%, in 105 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend support line (77.81) 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 medium-term trend.

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

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See XLI short-term trend chart]
A short-term downtrend had started on September 20, 2018 at 80.41 and reached 59.92 on December 26, 2018. XLI lost 20.49 points, or 25.48%, in 97 days. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (54.48) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. XLI may retest the broken resistance line. It is considered to be a support 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 resistance line in a short-term trend.

Daily Technical Indicators: [See XLI daily technical indicators chart]
Daily 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 daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. During the last week, daily 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 daily MACD line is above its signal line since December 31, 2018.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.73
Williams' Percentage Range (W%R) 19.70
Overbought
Lane's Stochastic (%D-Slow) 91.31
Strong Overbought
Greed/Fear Indicator (GFI) 79.78
Moving Average Converg./Diverg. (MACD) 1.27
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.71
Williams' Percentage Range (W%R) 38.60
Lane's Stochastic (%D-Slow) 66.75
Greed/Fear Indicator (GFI) 59.61
Moving Average Converg./Diverg. (MACD) -1.78
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 80.09
Quarterly Trendline Support 77.81
Yearly Trendline Resistance 75.96
Upper Bollinger Band 74.62
Daily Stochastic Crossing 73.43
Price 73.07
Parabolic System 71.59
20 Day Moving Average 70.38
Weekly Stochastic Crossing 69.94
Weekly Trendline Resistance 69.21
50 Day Moving Average 68.27
Lower Bollinger Band 66.57
Yearly Trendline Support 63.25
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 59.92
Low Date 12/26/2018
High 73.81
High Date 02/06/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 69.21
Support 54.48
High 80.41
High Date 09/20/2018
Low 59.92
Low Date 12/26/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 80.96
High Date 01/29/2018
Low 59.92
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 80.09
Support 77.81
Low 46.82
Low Date 01/20/2016
High 80.96
High Date 01/29/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 75.96
Support 63.25
Low 15.14
Low Date 03/06/2009
High 80.96
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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