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TrendSurfer
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Stock market technical analysis, chart trend analysis, and chart pattern recognition.
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  • More than a half of S&P 500 members are overbought

    It was a second positive week after 3 consecutive negative weeks for the S&P 500 index (^GSPC). During the week, the ^GSPC climbed 5.04 points, or 0.46%, and closed at 1109.55 on Friday, September 10, 2010. Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Weekly volume was 32% below average. Read More ...
     
     
    S&P 500 - monthly trend
    Technical Stock Market Timing System


    The S&P 500 monthly trend has started on April 26, 2010 and is forming a triangle chart pattern. Price is near the trend resistance. ^GSPC has a Downtrend Resistance alert.

    More than a half of S&P 500 members have an overbought daily Lane's Stochastic and almost a half has an overbought daily Williams' Percentage Range indicator. Read More ...

    More than 10% of S&P 500 index members made a new 52-week high, but almost a half of them closed this week below the previous week's close. This event is called a "buying climax". Read More ...

    The S&P 500 members MACD bullish/bearish divergence ratio is 1/3. That means that three times more S&P 500 members have MACD bearish divergence than bullish divergence. The Lane's stochastic bullish/bearish divergence ratio is 3/8. Read More ...

    All above technical indicators are bearish. S&P 500 index downtrend may resume soon.
     



    Disclosure: No positions
    Tags: SPY, SPY, S P 500
    Sep 12 4:53 PM | Link | Comment!
  • S&P 500 - Trend Support Alert
    It was a second consecutive negative week for the S&P 500 index (^GSPC). During the week, the S&P 500 dropped 54.18 points, or 5.03%, and closed at 1022.58 on Friday, July 02, 2010. It was the worst weekly loss since May 7, 2010. ^GSPC was trading at average weekly trading volume. Read More ...

    A medium-term downtrend had started on April 26, 2010 at 1219.80 and reached 1010.91 on July 1, 2010. S&P 500 lost 208.89 points, or 17.12%, in 66 days. The trend is forming a falling channel chart pattern and has five waves structure.

    The fourth wave up has reached 1131.23 on June 21st. In our previous publication on Sunday, June 20 we wrote:

    "Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought for both S&P 500 and Dow Jones Industrial Average. More than 60 S&P members have the Downtrend Resistance Alert. A medium - term downtrend may resume soon."

    A fifth down wave started on June 21st at 1131.23 and reached 1010.91 on Thursday, July 1st. S&P 500 lost 120.31 points, or 10.64%, in 20 days. The trend line support is now near 985.
     
    S&P 500 - short-term trend
    Technical Stock Market Timing System


    Daily Williams' Percentage Range is oversold, while weekly Williams' Percentage Range and daily Lane's Stochastic are strongly oversold for all three major US indices: S&P 500, Dow Jones Industrial Average and NASDAQ. More than 28% of S&P members are oversold, and more than 22% have a Trend Support Alert. The fifth wave down is near completion. A short-term trend reversal may start soon.
    Jul 04 10:02 PM | Link | Comment!
  • S&P 500 members - Downtrend Resistance alert
     
    It was a second consecutive positive week for the S&P 500 index (^GSPC). During the week, the S&P 500 gained 25.91 points, or 2.37%, and closed at 1117.51 on Friday, June 18, 2010. S&P 500 was trading at average weekly trading volume. Read More ...

    A medium-term downtrend had started on April 26, 2010 at 1219.80 and reached 1040.78 on May 25, 2010. S&P 500 lost 179.02 points, or 14.68%, in 29 days.

    In our previous publication on Sunday May 23 we wrote:

    "price is near the monthly uptrend support level. An uptrend support alert usually follows by at least a short term rally."

    A short term rally started on May 25th at 1040.78 and reached 1121.01 on Friday June 18th. The price is near the trend resistance line (1102.36) and close to 50% retracement level.
     
    S&P 500 - short-term trend
    Technical Stock Market Timing System


    Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought for both S&P 500 and Dow Jones Industrial Average. More than 60 S&P members have the Downtrend Resistance Alert. A medium - term downtrend may resume soon.
    Jun 20 1:47 PM | Link | Comment!
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