The Greedy Trader Weekly Analysis
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- 5/6/2022 -
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S&P 500 (^GSPC)

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Summary:
Weekly :Broken trend resistance lineWilliams' Percentage Range is oversold
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageWilliams' Percentage Range is oversoldStochastic signal line moved above oversold areaThe price has risen above the Parabolic SARThe period of high volatility of the stock price
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It was the negative week for the S&P 500 (^GSPC). During the week, the ^GSPC gave back -8.59 points, or -0.21%, and closed at 4123.34 on Friday, May 6, 2022. Weekly volume was 21% 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 uptrend resistance line (2798.52) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 downtrend had started on January 4, 2022 at 4818.62 and reached 4062.51 on May 2, 2022. ^GSPC lost 756.11 points, or 15.69%, in 16 weeks. The price is now at the 8.05% retracement level.

Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly 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. 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 March 29, 2022 at 4637.30 and reached 4062.51 on May 2, 2022. ^GSPC lost 574.79 points, or 12.39%, in 34 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 3943.78 and resistance is at 4254.43. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. 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 April 6, 2022. This is an indication that the short-term trend is down.

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 distance between the Bollinger Bands is 104.44% 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.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.83
Williams' Percentage Range (W%R) 85.70
Oversold
Lane's Stochastic (%D-Slow) 35.65
Greed/Fear Indicator (GFI) 28.94
Moving Average Converg./Diverg. (MACD) -59.53
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.15
Williams' Percentage Range (W%R) 91.30
Strong Oversold
Lane's Stochastic (%D-Slow) 46.37
Greed/Fear Indicator (GFI) 32.69
Moving Average Converg./Diverg. (MACD) -5.51 Bullish
Trading Signals
Description Value Chart
Upper Bollinger Band 4531.53
50 Day Moving Average 4369.70
20 Day Moving Average 4304.61
Weekly Stochastic Crossing 4282.30
Weekly Trendline Resistance 4254.43
Daily Stochastic Crossing 4159.42
Price 4123.34
Parabolic System 4063.84
Lower Bollinger Band 4037.17
Weekly Trendline Support 3943.78
Yearly Trendline Resistance 3813.99
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 4307.66
High Date 05/04/2022
Low 4067.91
Low Date 05/06/2022
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 4254.43
Support 3943.78
High 4637.30
High Date 03/29/2022
Low 4062.51
Low Date 05/02/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 4818.62
High Date 01/04/2022
Low 4062.51
Low Date 05/02/2022
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 Broken Resistance
Resistance 3813.99
Support 2798.52
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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