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Stock Market Trend Analysis Newsletter.
Weekly Market Overview - 12/3/2021
Weekly Stock Market Overview

Major US indices
This week, all three major US indices were negative. The monthly Lane's Stochastic is strongly overbought and the price is below the 20 & 50 Day Moving Average.

The Dow Jones Industrial Average index (^DJI) lost 319.26 points, or 0.91%, and closed at 34580.08. ^DJI closed negative for the fourth consecutive week. The volume was 45% above average. The ^DJI price is near the 200 Day Moving Average. The 200 Day Moving Average often acts as a support or resistance level for trading. More Info.

The S&P 500 (^GSPC) lost 56.19 points and closed at 4538.43. The S&P 500 weekly downtrend started on November 22, 2021 at 4,743.83 and reached 4,495.12 on December 03, 2021, making a 5.24% drop in eight business days.

^GSPC: S&P 500

The ^GSPC price is near the 50 Day Moving Average. Lane's Stochastic is strongly overbought in a monthly and weekly time frame and oversold in a daily time frame. More Info.

The NASDAQ Composite Index (^IXIC) lost 406.19 points and closed at 15085.47. The NASDAQ Composite Index quarterly uptrend started on March 23, 2020 at 6,631.42 and reached 16,212.23 on November 22, 2021, making a 144.48% increase in twenty months. The wave has formed the Rising Channel chart pattern. The ^IXIC price is 2.16% above the channel support level of 14759.24. The channel resistance is 7.5% above the current price.

^IXIC: NASDAQ Composite Index

The NASDAQ Composite Index weekly downtrend started on November 22, 2021 at 16,212.23 and reached 14,931.06 on December 03, 2021, making a 7.90% drop in eight business days. The ^IXIC price is 2.16% below the channel support level of 14759.24. The channel resistance is 7.5% above the current price.

^IXIC: NASDAQ Composite Index

The ^IXIC price is near the 100 Day Moving Average. Lane's Stochastic is strongly overbought in a monthly and weekly time frame and oversold in a daily time frame. More Info.

ETF's Select Sector SPDR Alert
This week, the Energy Select Sector SPDR (XLE) slid down 0.44 points and closed at 55.14. The Energy Select Sector SPDR weekly downtrend started on October 26, 2021 at 59.41 and reached 53.40 on December 02, 2021, making a 10.12% slide in five weeks.

XLE: Energy Select Sector SPDR

The price has risen above the Parabolic SAR. This is considered a buy signal when the major trend is bullish. The XLE price is below the 20 and 50 Day Moving Averages. The Relative Strength Index, Williams' Percentage Range, and Lane's Stochastic are overbought in a monthly time frame. More Info.

This week, the Industrial Select Sector SPDR (XLI) fell 1.01 points, or 0.98%, and closed at 102.2. The Industrial Select Sector SPDR weekly downtrend started on November 16, 2021 at 107.64 and reached 99.33 on December 01, 2021, making a 7.72% loss in ten business days.

XLI: Industrial Select Sector SPDR

The price has risen above the Parabolic SAR. The daily Lane's Stochastic main line (K%) crossed above the oversold signal line (D%). The XLI price is below the 20 and 50 Day Moving Averages and currently is near the 100 and 200 Day Moving Averages. Lane's Stochastic is overbought in a monthly time frame and oversold in a daily time frame. More Info.


Sector Rotation
The Utilities sector was the strongest sector last week (0.96%), followed by the Technology sector (-0.52%). The Consumer Discretionary sector was the worst performing sector of the week (-2.17%), followed by the Financial sector (-1.91%).

The Information Technology sector is the most overvalued sector, followed by Utilities, while Electronic Equipment & Instruments, Semiconductor Equipment, and Internet Services & Infrastructure are among the most overvalued industries. The Materials sector is the most oversold sector, followed by Financials, while Commodity Chemicals, Consumer Finance, and Gold 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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