SPDR S&P 500 - Weekly - Technical analysis published on 03/10/2020 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Slightly bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 274.57 USD
My targets
257.52 USD (-6.09%)
234.37 USD (-14.54%)
My analysis
The strong short-term decline of SPDR S&P 500 reinforces the current slightly bearish trend. As long as the price remains below 274.57 USD, you could take advantage of this bearish acceleration. The first bearish objective is located at 257.52 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 234.37 USD as an objective. Crossing it would then enable sellers to target 156.48 USD. A return to above 274.57 USD would be a sign of a correction of short-term bearish excesses. In this case, you could stay away while waiting for signals indicating a reversal of the trend.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
FORCE
0
10
4.6
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This analysis was given by emerick. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SPDR S&P 500 price is 274.23 USD. The price registered a decrease of -8.66% over 5 days with the lowest point at 273.45 USD and the highest point at 298.78 USD. The deviation from the price is +0.29% for the low point and -8.22% for the high point.273.45
298.78
274.23
The Central Gaps scanner detects a bearish gap which is a sign that the sellers have taken the lead in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Abnormal volumes on SPDR S&P 500 were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
A technical analysis in Weekly of this SPDR S&P 500 chart shows a slightly bearish trend. Only 60.71% of the signals given by moving averages are bearish. This slightly bearish trend is reinforced by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further decline is moderate given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : Weekly
Near support of channel
Type : Bullish
Timeframe : Weekly
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 156.48 | 234.37 | 257.52 | 274.23 | 274.57 | 293.58 | 301.87 |
| Change (%) | -42.94% | -14.54% | -6.09% | - | +0.12% | +7.06% | +10.08% |
| Change | -117.75 | -39.86 | -16.71 | - | +0.34 | +19.35 | +27.64 |
| Level | Minor | Major | Minor | - | Minor | Major | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 283.65 | 286.94 | 292.20 | 295.49 | 300.75 | 304.04 | 309.30 |
| Camarilla | 295.11 | 295.89 | 296.68 | 297.46 | 298.24 | 299.03 | 299.81 |
| Woodie | 284.64 | 287.43 | 293.19 | 295.98 | 301.74 | 304.53 | 310.29 |
| Fibonacci | 286.94 | 290.21 | 292.22 | 295.49 | 298.76 | 300.77 | 304.04 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 263.57 | 276.90 | 287.18 | 300.51 | 310.79 | 324.12 | 334.40 |
| Camarilla | 290.97 | 293.13 | 295.30 | 297.46 | 299.62 | 301.79 | 303.95 |
| Woodie | 262.05 | 276.14 | 285.66 | 299.75 | 309.27 | 323.36 | 332.88 |
| Fibonacci | 276.90 | 285.92 | 291.49 | 300.51 | 309.53 | 315.10 | 324.12 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 221.30 | 253.42 | 274.84 | 306.96 | 328.38 | 360.50 | 381.92 |
| Camarilla | 281.54 | 286.44 | 291.35 | 296.26 | 301.17 | 306.08 | 310.98 |
| Woodie | 215.95 | 250.75 | 269.49 | 304.29 | 323.03 | 357.83 | 376.57 |
| Fibonacci | 253.42 | 273.87 | 286.51 | 306.96 | 327.41 | 340.05 | 360.50 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 31.18 | |
| MACD (12,26,9): | 0.7600 | |
| Directional Movement: | -27.04 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 315.15 | |
| Parabolic SAR (0,02-0,02-0,2): | 338.01 | |
| Elder Ray (13): | -32.41 | |
| Super Trend (3,10): | 318.88 | |
| Zig ZAG (10): | 274.23 | |
| VORTEX (21): | 0.8700 | |
| Stochastique (14,3,5): | 14.49 | |
| TEMA (21): | 309.49 | |
| Williams %R (14): | -98.81 | |
| Chande Momentum Oscillator (20): | -46.50 | |
| Repulse (5,40,3): | -8.9100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.3300 | |
| Courbe Coppock: | 1.24 |
| MA7: | 298.94 | |
| MA20: | 318.21 | |
| MA50: | 323.43 | |
| MA100: | 316.65 | |
| MAexp7: | 305.18 | |
| MAexp20: | 311.47 | |
| MAexp50: | 302.38 | |
| MAexp100: | 287.97 | |
| Price / MA7: | -8.27% | |
| Price / MA20: | -13.82% | |
| Price / MA50: | -15.21% | |
| Price / MA100: | -13.40% | |
| Price / MAexp7: | -10.14% | |
| Price / MAexp20: | -11.96% | |
| Price / MAexp50: | -9.31% | |
| Price / MAexp100: | -4.77% |
This member declared not having a position on this financial instrument or a related financial instrument.
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