Eighth consecutive positive week for S&P 500

It was the eighth consecutive positive week for S&P 500 index (^GSPC). The price is above Upper Bollinger Band. The daily Williams' Percentage Rangeis overbought. The daily Williams' Percentage Range and Lane's Stochastic have a bearish divergence. The S&P 500 weekly uptrend started on August 21, 2017 at 2,417.35 and reached 2,588.42 on November 03, 2017, making 7.08% gain in eleven weeks.

^GSPC: S&P 500

More than 16% of S&P 500 component stocks have an above average weekly volume. It is the highest level since November 11, 2016. More than 40% of S&P 500 component stocks have an overbought weekly Lane's Stochastic. It is the highest level since April 29, 2016. http://www.thegreedytrader.com/QQQQTrendAnalysis.aspx?r=248

ETF's Currency Shares Alert

This week, the CurrencyShares Swedish Krona Trust (FXS) slid 3.04 points, or 2.53%. The CurrencyShares Swedish Krona Trust weekly downtrend started on August 29, 2017 at 121.07 and reached 116.62 on September 27, 2017, making 3.68% decline in seventeen business days. It was the biggest weekly drop since October 2015. The volume was 192% above average. This is a sign that there may be a significant move to come. FXS price is below 20 and 50 Day Moving Average. FXS price is near 50 Day Moving Average. Williams' Percentage Range and Lane's Stochastic are oversold in a daily time frame. http://www.thegreedytrader.com/QQQQTrendAnalysis.aspx?r=247

Dow Jones Industrial Average monthly uptrend - five-wave structure

Major US indices

It was a mixed week for the major U.S. indices. Daily Lane's Stochastic main line (K%) crossed below the overbought signal line (D%) for all three major US indices. The Stochastic crossover in the overbought area is a sell signal. Williams' Percentage Range and Lane's Stochastic are strongly overbought in a monthly time frame.

This week, the Dow Jones Industrial Average (^DJI) climbed 81.25 points and closed at 22349.59. The Dow Jones Industrial Average quarterly uptrend started on January 20, 2016 at 15,450.56 and reached 22,419.51 on September 21, 2017, making 45.10% increase in twenty months.  

The Dow Jones Industrial Average monthly uptrend has formed a five-wave structure. It started on April 19, 2017 at 20,379.55 and reached 22,419.51 on September 21, 2017, making 10.01% advance in twenty two weeks.   

The fifth wave started on August 21, 2017 at 21,600.34 and reached 22,419.51 on September 21, 2017, making 3.79% gain in four weeks. 

The monthly Relative Strength Index (RSI) and The weekly Williams' Percentage Range (W%R) are strongly overbought. The weekly Relative Strength Index (RSI) and Lane's Stochastic (%D-Slow)  have bearish divergence. The bearish divergence can be used to predict tops. The daily Williams' Percentage Range (W%R) is overbought. 

Sixth consecutive positive week for the S&P 500

Major U.S. indices moved higher over the past week. The monthly Williams' Percentage Range (W%R) is strongly overbought. The monthly Strongly Overbought Williams' Percentage Range (W%R) can be used to foreshadow yearly and quarterly uptrend reversals. The monthly Lane's Stochastic is strongly overbought. The weekly Lane's Stochastic main line (K%) crossed below the overbought signal line (D%). The Stochastic crossover in the overbought area is a bearish indicator. Indices have a strongly overbought weekly Lane's Stochastic. The price is above 20 & 50 Day Moving Average. The S&P 500 (^GSPC) advanced 15.78 points and closed at 2383.12. It was the sixth consecutive positive week for the ^GSPC. Daily Lane's Stochastic main line (K%) crossed below the overbought signal line (D%). The Stochastic crossover in the overbought area is a bearish signal. Relative Strength Index is overbought in monthly and weekly time frames and has bearish divergence in a daily time frame. Williams' Percentage Range is strongly overbought in monthly and weekly time frames overbought in a daily time frame, and has bearish divergence in weekly and daily time frames. Lane's Stochastic is strongly overbought in monthly and weekly time frames and has bearish divergence in a daily time frame.