The Greedy Trader Weekly Analysis
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- 9/27/2024 -
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S&P 500 (^GSPC) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtStochastic has declined below the signal line
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It was a third consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 35.62 points, or 0.62%, and closed at 5738.17 on Friday, September 27, 2024. ^GSPC was trading at average weekly trading volume.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 3491.58 and reached 5767.37 on September 26, 2024. ^GSPC gained -2275.79 points, or -65.18%, in 102 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 5767.37 on September 26, 2024. ^GSPC gained -648.11 points, or -12.66%, in 7 weeks. Price is near the trend high.

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 below its signal line since July 26, 2024. The distance between MACD and the signal line is low and getting smaller. 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 September 6, 2024 at 5402.62 and reached 5767.37 on September 26, 2024. ^GSPC gained -364.75 points, or -6.75%, in 20 days. The price is now at the 8.01% retracement level.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since September 12, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 87.34
Overbought
Williams' Percentage Range (W%R) 3.30
Strong Overbought
Lane's Stochastic (%D-Slow) 89.64
Overbought
Greed/Fear Indicator (GFI) 91.23
Strong Overbought
Moving Average Converg./Diverg. (MACD) 47.43
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.49
Williams' Percentage Range (W%R) 1.80
Strong Overbought
Lane's Stochastic (%D-Slow) 86.23
Overbought
Greed/Fear Indicator (GFI) 79.44
Moving Average Converg./Diverg. (MACD) 158.70
Trading Signals
Description Value Chart
Upper Bollinger Band 5839.96
Daily Stochastic Crossing 5749.39
Price 5738.17
Weekly Stochastic Crossing 5672.70
Parabolic System 5656.84
20 Day Moving Average 5615.56
50 Day Moving Average 5530.33
Lower Bollinger Band 5441.69
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 5402.62
Low Date 09/06/2024
High 5767.37
High Date 09/26/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 5119.26
Low Date 08/05/2024
High 5767.37
High Date 09/26/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 4103.78
Low Date 10/27/2023
High 5767.37
High Date 09/26/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 3491.58
Low Date 10/13/2022
High 5767.37
High Date 09/26/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 666.79
Low Date 03/06/2009
High 5767.37
High Date 09/26/2024
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.