	The Greedy Trader	Weekly Analysis
Sign In	The Greedy Trader	Nov 15, 2024

Stock Market Trend Analysis Newsletter.

Sixth consecutive positive week for the S&P 500.

Major US indices

Major U.S. indices moved higher over the past week. The monthly Williams' Percentage Range (W%R) is strongly overbought. The monthly Strongly Overbought Williams' Percentage Range (W%R) can be used to foreshadow yearly and quarterly uptrend reversals. The monthly Lane's Stochastic is strongly overbought. The weekly Lane's Stochastic main line (K%) crossed below the overbought signal line (D%). The Stochastic crossover in the overbought area is a bearish indicator. Indices have a strongly overbought weekly Lane's Stochastic. The price is above 20 & 50 Day Moving Average.

During the past week, Dow Jones Industrial Average (^DJI) edged higher 183.95 points and closed at 21005.71. ^DJI closed positive for the fourth consecutive week. The volume was 154% above average. Expansion of range and high volume means that there is increased interest in the stock, and the price trend is expected to continue. Relative Strength Index is strongly overbought in a monthly time frame and overbought in weekly and daily time frames. Williams' Percentage Range is strongly overbought in monthly and weekly time frames and overbought in a daily time frame. Lane's Stochastic is strongly overbought in monthly and weekly time frames and overbought in a daily time frame.

The S&P 500 (^GSPC) advanced 15.78 points and closed at 2383.12. It was the sixth consecutive positive week for the ^GSPC. Daily Lane's Stochastic main line (K%) crossed below the overbought signal line (D%). The Stochastic crossover in the overbought area is a bearish signal. Relative Strength Index is overbought in monthly and weekly time frames and has bearish divergence in a daily time frame. Williams' Percentage Range is strongly overbought in monthly and weekly time frames overbought in a daily time frame, and has bearish divergence in weekly and daily time frames. Lane's Stochastic is strongly overbought in monthly and weekly time frames and has bearish divergence in a daily time frame.

The NASDAQ Composite Index (^IXIC) advanced 25.44 points and closed at 5870.75. ^IXIC closed positive for the sixth consecutive week. The price has risen above the Parabolic SAR. This signals a short term trend reversal. Many traders use SAR values to place their stop loss orders. Daily Lane's Stochastic main line (K%) crossed below the overbought signal line (D%). The Relative Strength Index is overbought in a monthly time frame and has bearish divergence in a daily time frame. Williams' Percentage Range is strongly overbought in monthly and weekly time frames and has bearish divergence in a daily time frame. Lane's Stochastic is strongly overbought in monthly and weekly time frames and has bearish divergence in a daily time frame.

S&P 500 Members Alerts

Almost 56% of S&P 500 component stocks have overbought weekly Williams' Percentage Range (W%R). It is the highest level since December 26, 2014. More than 36% of S&P 500 component stocks have strongly overbought weekly Williams' Percentage Range (W%R). It is the highest level since July 15, 2016.

The chart below shows how the weekly Overbought Williams' Percentage Range (W%R) on December 26, 2014 signals the S&P 500 uptrend reversal. The S&P 500 index weekly downtrend started on December 29, 2014 at 2,093.55 and reached 1,980.90 on February 02, 2015, making a 5.38% slide in three weeks.

^GSPC: S&P 500 Index

ETF's Commodity Alert

This week, the iShares Lehman 1-3 Year Treasury Bond (SHY) slid 0.30 points, or 0.35% and closed at 84.33.
The iShares Lehman 1-3 Year Treasury Bond monthly uptrend started on December 15, 2016 at 84.23 and reached 84.67 on February 24, 2017, making a 0.52% advance in nine weeks.

SHY: iShares Lehman 1-3 Year Treasury Bond

SHY's price is near the 200 Day Moving Average. The 200 Day Moving Average often acts as a support or resistance level for trading.
The iShares Lehman 1-3 Year Treasury Bond weekly downtrend started on February 24, 2017 at 84.67 and reached 84.29 on March 02, 2017, making a 0.45% loss in four business days.

SHY: iShares Lehman 1-3 Year Treasury Bond

It was the biggest slide recorded. The price has fallen below the Parabolic SAR. This is a sell signal when the long term trend is bearish. SHY's price is below 20 and 50 Day Moving Average. SHY's price is near the 50 and 100 Day Moving Average. Williams' Percentage Range is strongly oversold in monthly and daily time frames and oversold in a weekly time frame.

SHY: iShares Lehman 1-3 Year Treasury Bond

ETF's Select Sector SPDR Alert

This week, the Technology Select Sector SPDR (XLK) advanced 0.23 points, or 0.44% and closed at 52.86.
The Technology Select Sector SPDR monthly uptrend started on November 14, 2016 at 45.80 and reached 53.16 on March 01, 2017, making a 16.07% increase in fourteen weeks.

XLK: Technology Select Sector SPDR

Weekly Lane's Stochastic main line (K%) crossed below the overbought signal line (D%). The price has reached its highest level since September 2000. The price has fallen below the Parabolic SAR. Daily Lane's Stochastic main line (K%) crossed below the overbought signal line (D%). XLK's price is above the 20 and 50 Day Moving Averages. Williams' Percentage Range, Lane's Stochastic, Williams' Percentage Range, and Lane's Stochastic are strongly overbought in a monthly time frame. Williams' Percentage Range is overbought in a daily time frame. MACD, Relative Strength Index, and Lane's Stochastic have bearish divergence in a daily time frame.

XLK: Technology Select Sector SPDR

Sector Rotation

The Financial sector was the strongest sector last week (2.25%), followed by the Energy sector (1.41%). The Consumer Staples sector was the worst performing sector of the week (-0.25%), followed by the Utilities sector (-0.14%).

The Industrial Goods sector is the most overvalued sector, followed by Technology, while Personal Computers, Textile Manufacturing, and Semiconductor Equip/Matrl are among the most overvalued industries. The Utilities sector is the most oversold sector, followed by Basic Materials, while Oil & Gas Pipelines, Independent Oil & Gas, and Oil & Gas Refining/Mrktng are among the most oversold industries.

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

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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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