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Archive
- 11/8/2024 -
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S&P 500 (^GSPC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the S&P 500 (^GSPC). During the week, the ^GSPC gained 266.74 points, or 4.66%, and closed at 5995.54 on Friday, November 8, 2024. Weekly volume was -17% below average.
 Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on October 27, 2023 at 4103.78 and reached 6012.45 on November 8, 2024. ^GSPC gained -1908.67 points, or -46.51%, in 54 weeks. Price is near the trend high.
 Medium-term trend: [See ^GSPC medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 5119.26 and reached 6012.45 on November 8, 2024. ^GSPC gained -893.19 points, or -17.45%, in 13 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend resistance line (5976.55). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly 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 weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 weekly MACD line is above its signal line since September 27, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 November 4, 2024 at 5696.51 and reached 6012.45 on November 8, 2024. ^GSPC gained -315.94 points, or -5.55%, in 4 days. The price is now at the 5.35% retracement level.
 Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.
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 has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.
 Candlestick pattern: [See ^GSPC candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.
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