The Greedy Trader Weekly Analysis
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S&P 500 (^GSPC)

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overbought
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price touches the upper Bollinger BandThe period of low volatility of the stock price
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It was a first positive week for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 30.69 points, or 0.99%, and closed at 3140.98 on Friday, November 29, 2019. Weekly volume was -39% 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 3154.26 on November 27, 2019. ^GSPC gained -2487.47 points, or -373.05%, in 559 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2523.51) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 December 26, 2018 at 2346.58 and reached 3154.26 on November 27, 2019. ^GSPC gained -807.68 points, or -34.42%, in 48 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (3104.84) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since October 25, 2019. 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 August 5, 2019 at 2822.12 and reached 3154.26 on November 27, 2019. ^GSPC gained -332.14 points, or -11.77%, in 114 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 2888.87 and resistance is at 3173.30. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

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

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 touches the upper Bollinger Band. The distance between the Bollinger Bands is falling, and it was 3.07% on Friday. It is 50.61% lower than one year average. It indicates the period of low volatility of the stock price. 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) 69.58
Bearish
Williams' Percentage Range (W%R) 6.80
Strong Overbought
Lane's Stochastic (%D-Slow) 87.67
Overbought Bearish
Greed/Fear Indicator (GFI) 83.47
Overbought
Moving Average Converg./Diverg. (MACD) 31.07 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.58
Overbought
Williams' Percentage Range (W%R) 2.10
Strong Overbought
Lane's Stochastic (%D-Slow) 96.67
Strong Overbought
Greed/Fear Indicator (GFI) 85.03
Overbought
Moving Average Converg./Diverg. (MACD) 46.00
Trading Signals
Description Value Chart
Weekly Trendline Resistance 3173.30
Daily Stochastic Crossing 3150.15
Upper Bollinger Band 3147.63
Weekly Stochastic Crossing 3145.82
Price 3140.98
Monthly Trendline Resistance 3136.29
20 Day Moving Average 3104.90
Monthly Trendline Support 3104.84
Parabolic System 3097.92
Lower Bollinger Band 3051.09
50 Day Moving Average 3028.72
Yearly Trendline Resistance 2920.00
Weekly Trendline Support 2888.87
Yearly Trendline Support 2523.51
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 2855.94
Low Date 10/03/2019
High 3154.26
High Date 11/27/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 3173.30
Support 2888.87
Low 2822.12
Low Date 08/05/2019
High 3154.26
High Date 11/27/2019
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 3136.29
Support 3104.84
Low 2346.58
Low Date 12/26/2018
High 3154.26
High Date 11/27/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1810.10
Low Date 02/11/2016
High 3154.26
High Date 11/27/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2920.00
Support 2523.51
Low 666.79
Low Date 03/06/2009
High 3154.26
High Date 11/27/2019
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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