Major U.S. indices moved higher over the past week. The monthly, weekly, and daily Relative Strength Index (RSI), Williams' Percentage Range (W%R), and Lane's Stochastic are strongly overbought. Weekly and daily technical indicators have bearish divergence. They are usually used to foreshadow yearly and quarterly uptrend reversals. More than 30% of S&P index members are trading at their highest price in the past 52 weeks. This is an important indicator in determining the current value of stocks. Almost 7.5% of S&P members have a weekly deliberation bearish candlestick pattern. The pattern occurs when there is a clear uptrend and is considered a bearish reversal signal.
During the past week, Dow Jones Industrial Average (^DJI) rose 576.65 points, or 2.33%, and closed at 25295.87.
The S&P 500 (^GSPC) advanced 69.54 points, or 2.60%, and closed at 2743.15.
The NASDAQ Composite Index (^IXIC) advanced 233.17 points, or 3.38%, and closed at 7136.56. It was the biggest weekly advance recorded. The NASDAQ Composite Index weekly uptrend started on August 21, 2017 at 6,177.19 and reached 7,137.04 on January 05, 2018, making a 15.54% incline in nineteen weeks
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