S&P 500 Trend Analysis - 6/18/2010 | ||
| 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. | ||
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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. | ||
Presented by www.thegreedytrader.com Research Group. | ||
Sunday, June 20, 2010
S&P 500 members - Downtrend Resistance alert
