The Greedy Trader Weekly Analysis
Sign In Nov 15, 2024
Skip Navigation Links

Stock Market Trend Analysis Newsletter.

S&P 500 Trend Analysis - 9/5/2011

It was a mixed week for the major markets. During the week, the Dow Jones Industrial Average dropped -44.28 points or -0.39%. The Standard & Poor's 500 Index dropped -2.83 points or -0.24%, while the NASDAQ Composite climbed 0.48 points or 0.02%.

The Standard & Poor's 500 Index (^GSPC) closed at 1173.97 on Friday, September 02, 2011. It was trading at the average weekly trading volume. Read More ...

S&P 500 index long-term downtrend is forming a three wave?s structure (See Figure 1). The first wave down (A) had started on October 11, 2007 at 1576.09 and lost 909.30 points, or 57.69%, in 73 weeks and reached 666.79 on March 6, 2009. The second wave (B) gained 703.79 points, or more than 105%, in 26 month and reached 1370.58 on May 2, 2011. Wave B made a lower high; it is a bearish signal. The third wave down (C) is in progress now.
S&P 500 long-term trend
Technical Stock Market Timing System
Figure 1

The recent rally had started on August 9th, 2011 at 1101.54 and reached 1,230.71 on August 31st, 2011. It is a sub wave of a long-term C wave and it has a three wave?s structure as well (See Figure 3). Several technical indicators suggest that it was a bearish rally:
  • Usually when the price moves below 200 day Moving Average, the next up wave at least retests the 200 day MA as a new resistance level. The Bullish rally usually breaks this resistance level and the price moves above the 200 day MA level. The current rally is weak and it was not even able to reach the 200 day MA.
  • Daily Lane's Stochastic %D line is about to crossover with %k line. It is usually considered as a sell signal.
  • Sub wave C?s high is only 1.8% higher than sub wave A?s high, while daily Lane's Stochastic has raised substantially and has moved into an overbought area. This divergence is considered as a bearish signal.
  • The rally could not reach the Upper Bollinger Band, and this is a bearish indicator.
All the above signals may indicate that the rally might be over, and a new sub wave down has started. S&P 500 index may break the support around 1100 and move down to the next support area around 1000 - 950.
S&P 500 medium-term trend
Technical Stock Market Timing System

Figure 2


Presented by www.thegreedytrader.com Research Group.
The Dow Jones has formed a Triangle chart pattern
The Dow Jones quarterly wave has formed a Triangle chart pattern. The triangle resistance line is broken. Price is retesting the former resistance line.
Sep 17, 2023
The Dow Jones has formed the Elliott Wave Impulse Wave pattern
Almost 6% of S&P 500 component stocks have strongly oversold weekly Lane's Stochastic. It is the highest level since April 03, 2020.
Oct 02, 2022
The S&P 500 - fifth consecutive negative week
More than 40% of S&P 500 component stocks have oversold weekly Williams' Percentage Range (W%R). It is the highest level since March 20, 2020.
May 08, 2022
The NASDAQ price is near the quarterly rising rhannel support level.
The Dow Jones price is near the 200 Day Moving Average.
Dec 04, 2021
The highest number of strongly overbought stocks since January
The NASDAQ Composite index has formed the Rising Channel chart pattern, and price is near the resistance level.
Aug 29, 2020
Bear market correction can be mistaken for the start of a new upswing.
Weekly uptrend has formed a Rising Wedge chart pattern. The Rising Wedge in downtrend indicates that higher level downtrend is not over yet.
Apr 17, 2020
Reduce the risk and use some stop losses techniques
S&P 500 Elliot Wave's cycle consists of eight waves; the five-wave motive phase followed by three-wave corrective phase.
Apr 12, 2020
The Best Trading Strategies for the Trending Market
S&P 500 Elliot Waves Analysis: falling channel has a five sub-waves impulse structure.
Mar 22, 2020
S&P 500 Bearish Trend Analysis
What to expect if the S&P breaks the long term rising channel support trendline.
Mar 14, 2020
S&P 500 Rising Wedge Breakdown
The S&P 500 intermediate trend Rising Wedge breakdown caused the biggest weekly loss since October 2008.
Mar 1 , 2020
NASDAQ biggest weekly advance
It was the biggest weekly NASDAQ advance recorded. More than 30% of S&P members are trading at their highest price in the past 52 weeks.
Jan 7 , 2018
Eighth consecutive positive week
It was the eighth consecutive positive week for S&P 500 index. More than 40% of S&P 500 component stocks have overbought weekly Lane's Stochastic. It is the highest level since April 29, 2016.
Nov 5 , 2017
ETF's Currency Shares Alert.
CurrencyShares Swedish Krona Trust (FXS) weekly downtrend reached 116.62 on September 27, making the biggest weekly drop since October 2015.
Sep 24, 2017
Dow Jones Industrial Average monthly uptrend - five-wave structure.
The Dow Jones Industrial Average monthly uptrend has formed a five-wave structure. It started on April 19, 2017 at 20,379.55 and reached 22,419.51 on September 21, 2017.
Sep 24, 2017
Sixth consecutive positive week for the S&P 500.
Almost 56% of S&P 500 component stocks have overbought weekly Williams' Percentage Range. It is the highest level since December 26, 2014.
Mar 5 , 2017
Third consecutive negative week for the Dow Jones
Almost 40% of S&P 500 component stocks have oversold daily Lane's Stochastic. It is a highest level since November 16, 2012.
Mar 15, 2015
Dow Jones is near 200 Day Moving Average
During the past week, Dow Jones Industrial Average sank 507.65 points or 2.87%, to 17164.95. Williams' Percentage Range and Lane's Stochastic are overbought in a monthly time frame. The Dow Jones price is near 200 Day Moving Average.
Feb 1 , 2015
S&P 500 at highest level since Oct 2007
The major indices and more than a half of S&P 500 members are strongly overbought in daily, weekly, and monthly time frames.
Mar 17, 2013
S&P 500 members Downtrend Resistance Alert
Dow Jones, NASDAQ, and More than 40% of S&P 500 members have the Downtrend Resistance Alert.
Oct 30, 2011
The short-term rally is over
S&P 500 index may break the support around 1100 and move down to the next support area around 1000 - 950.
Sep 5 , 2011
S&P 500 is close to the 50 Day Moving Average
S&P 500 index has fallen below the Parabolic SAR (stop and reversal). Price is close to the 50 Day Moving Average.
Mar 13, 2011
S&P 500 index wave's structure
S&P 500 medium-term uptrend has a five wave's structure. The fifth sub wave is near completion.
Dec 26, 2010
Monthly W%R is strongly overbought for the first time since October 2007
The S&P 500 technical indicators are pretty close to the beginning of October 2007, just a week prior the beginning of the bear market of 2007-2009.
Oct 17, 2010
More than a half of S&P 500 members are overbought
More than 10% of S&P 500 index members made a new 52-week high, but almost a half of them closed this week below the previous week's close.
Sep 12, 2010
S&P 500 members - Trend Support Alert
Daily and weekly indicators are oversold for all three major US indices. More than 28% of S&P members are oversold, and more than 22% have a Trend Support Alert.
Jul 4 , 2010
S&P 500 members - Downtrend Resistance alert
More than 60 S&P members have the Downtrend Resistance Alert. Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought.
Jun 20, 2010
S&P 500 members - uptrend support alert
More than 30% of S&P 500 members have an uptrend support alert. This alert indicates that stock price is near the monthly uptrend support level.
May 23, 2010
Dow Jones Elliott Wave count
Dow Jones gained 68.03% in 53 weeks. The chart has formed a Rising Channel chart pattern. Fifth wave up is in progress.
Mar 21, 2010
NASDAQ at the highest level since September 2008
NASDAQ medium-term trend has formed a five-wave structure. The fifth wave is in progress now. The price is near the trend resistance line (2331.43).
Mar 5 , 2010
Creative Commons License
This work is available under the terms of the
Creative Commons Attribution-NoDerivs 2.5 License.
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.
•  Home •  Weekly Pick •  Performance • Watch List • Disclaimer •  Privacy Policy •  Terms •  Q&A •  Trend • Free Content •  Glossary •  Links •  Books • 
•   Market Indices •  Oversold Stocks •  Overbought Stocks •  ETFs •  TA Search • Stocks Trend Alerts • Site Map •  Candlesticks •  Sectors •  Industries • Lookup •