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- 6/24/2022 -
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S&P 500 (^GSPC)

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Summary:
Weekly :Williams' Percentage Range is oversoldTrend resistance at 3843.01
Daily :Stochastic has raised above the signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger BandsThe period of high volatility of the stock price
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It was a first positive week after 3 consecutive negative weeks for the S&P 500 (^GSPC). During the week, the ^GSPC gained 236.90 points, or 6.45%, and closed at 3911.74 on Friday, June 24, 2022. Weekly volume was 22% above average.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 666.79 and reached 4818.62 on January 4, 2022. ^GSPC gained -4151.83 points, or -622.66%, in 669 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (3843.01). 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 long-term trend.

Medium-term trend: [See ^GSPC medium-term trend chart]
A medium-term downtrend had started on March 29, 2022 at 4637.30 and reached 3636.87 on June 17, 2022. ^GSPC lost 1000.43 points, or 21.57%, in 11 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 3588.17 and resistance is at 4039.82. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since December 31, 2021. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See ^GSPC short-term trend chart]
A short-term downtrend had started on June 2, 2022 at 4177.51 and reached 3636.87 on June 17, 2022. ^GSPC lost 540.64 points, or 12.94%, in 15 days. The price is now at the 50.84% retracement level.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since June 10, 2022. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is 161.09% higher then one year average. It indicates the period of high volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.18
Williams' Percentage Range (W%R) 65.80
Lane's Stochastic (%D-Slow) 40.71
Greed/Fear Indicator (GFI) 38.03
Moving Average Converg./Diverg. (MACD) -85.75
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.82
Williams' Percentage Range (W%R) 81.50
Oversold
Lane's Stochastic (%D-Slow) 22.72
Greed/Fear Indicator (GFI) 27.00
Moving Average Converg./Diverg. (MACD) -90.35 Bullish
Trading Signals
Description Value Chart
Upper Bollinger Band 4262.36
50 Day Moving Average 4065.84
Weekly Trendline Resistance 4039.82
20 Day Moving Average 3945.01
Price 3911.74
Yearly Trendline Resistance 3843.01
Weekly Stochastic Crossing 3803.29
Daily Stochastic Crossing 3772.72
Parabolic System 3633.23
Weekly Trendline Support 3588.17
Lower Bollinger Band 3536.38
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 4177.51
High Date 06/02/2022
Low 3636.87
Low Date 06/17/2022
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 4039.82
Support 3588.17
High 4637.30
High Date 03/29/2022
Low 3636.87
Low Date 06/17/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 4818.62
High Date 01/04/2022
Low 3636.87
Low Date 06/17/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1810.10
Low Date 02/11/2016
High 4818.62
High Date 01/04/2022
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 3843.01
Support 2819.30
Low 666.79
Low Date 03/06/2009
High 4818.62
High Date 01/04/2022
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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