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Market IndicesArchive
- 5/19/2023 -
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S&P 500 (^GSPC) |
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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 67.90 points, or 1.65%, and closed at 4191.98 on Friday, May 19, 2023. It was the best weekly gain since March 31, 2023. Weekly volume was -6% below average.
 Long-term trend: [See ^GSPC long-term trend chart]
A long-term downtrend had started on January 4, 2022 at 4818.62 and reached 3491.58 on October 13, 2022. ^GSPC lost 1327.04 points, or 27.54%, in 40 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (3222.52) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ^GSPC may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See ^GSPC medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 3491.58 and reached 4212.91 on May 19, 2023. ^GSPC gained -721.33 points, or -20.66%, in 31 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. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 November 4, 2022. 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 May 4, 2023 at 4048.28 and reached 4212.91 on May 19, 2023. ^GSPC gained -164.63 points, or -4.07%, in 15 days. The price is now at the 12.71% retracement level.
Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly 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.
The distance between the Bollinger Bands is falling, and it was 3.6% on Friday. It is 58.98% lower than one year average. It indicates the period of low 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.
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