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Advanced TA SearchArchive
- 8/5/2022 -
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S&P 500 (^GSPC) |
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| Summary:
| | Weekly : | | Daily :
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| | It was a third consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 14.90 points, or 0.36%, and closed at 4145.19 on Friday, August 5, 2022. ^GSPC was trading at average weekly trading volume.
 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 (2837.56) 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 3636.87 on June 17, 2022. ^GSPC lost 1181.75 points, or 24.52%, in 23 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 3437.29 and resistance is at 4359.07. 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 medium-term trend.
 Weekly Technical Indicators: [See ^GSPC weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 June 17, 2022 at 3636.87 and reached 4167.66 on August 3, 2022. ^GSPC gained -530.79 points, or -14.59%, in 47 days. Price is near the trend high.
 Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. 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 daily MACD line is above its signal line since June 24, 2022. This is an indication that the short-term trend is up.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.
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