SPY Trend Analysis - 2/23/2007

It was a mixed week for the major markets. For the week, the Dow Jones Industrial Average gave back 120.09 points, or 0.94%. The Standard Poor's 500 Index lost 4.35 points, or 0.30%, while the Nasdaq Composite climbed 18.79 points, or 0.75%. Last week we expected SPY to retest the resistance line at the beginning of the week and then pull back. SPY retested the uptrend resistance line on Tuesday and then again on Thursday at 146.42. Then it pulled back and closed on Friday at 145.30, losing 0.14 for the week.

Oscillators Trend Analysis Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly SPY

SPY Long-term perspective: Our long-term perspective has not changed. The SPY monthly uptrend that started on 6/14/2006 has a five waves impulse structure. Fifth wave is in progress and forming the rising wedges pattern. The rising wedge appears in a mature trend characterized by overbought long-term and short-term indicators. This situation usually generates divergence on long-term indicators. Rising wedges usually marks the reversal in an uptrend. Price is near the monthly uptrend resistance line. Weekly William's Percentage Range (W%R) is overbought. Weekly Lane's Stochastic is strongly overbought. We keep bearish long-term outlook for SPY.

SPY - Trend

SPY Short-term perspective: SPY daily William's Percentage Range and Lane's Stochastic are overbought. Price is moving within the short-term channel. The resistance line is near 146.56 and the support line is around 144.46. We expect SPY retest the support line during the next week.

SPY - Trend

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SPY Trend Analysis - 2/16/2007

Last week we expected SPY to test the support line. It dropped from Friday's close of 143.94 to the weekly support level of 143.19 on Monday and then rallied till the resistance level of 145.95 on Thursday. It was also an up week for the major markets. For the week, the Dow Jones Industrial Average rose 186.74 points, or 1.48%. The Standard Poor's 500 Index gained 17.48 points, or 1.22%, while the Nasdaq Composite gained 36.49 points, or 1.48%.

Oscillators Trend Analysis Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly SPY

SPY Long-term perspective: Our long-term perspective has not changed. The SPY monthly uptrend that started on 6/14/2006 has a five waves impulse structure. Fifth wave is in progress and forming the rising wedges pattern. The rising wedge appears in a mature trend characterized by overbought long-term and short-term indicators. This situation usually generates divergence on long-term indicators. Rising wedges usually marks the reversal in an uptrend. Price is near the monthly uptrend resistance line. Weekly William's Percentage Range (W%R) is strongly overbought. Weekly Lane's Stochastic is overbought and has bearish divergence. We keep bearish long-term outlook for SPY.

SPY - Trend

SPY Short-term perspective: SPY daily William's Percentage Range is overbought. Price is moving within the short term up channel. The resistance line is near 146.11 and support around 144. We expect SPY to test the uptrend resistance line at the beginning of the week and then for the rest of the week chances for pull back are high.

SPY - Trend

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SPY Trend Analysis - 2/9/2007

All the major US indices were negative. For the week, the Dow Jones Industrial Average gave back 72.66 points, or 0.57%. The Standard Poor's 500 Index lost 10.33 points, or 0.71%, while the Nasdaq Composite gave back 16.06 points, or 0.65%.

Oscillators Trend Analysis Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly SPY

SPY Long-term perspective: Our long-term perspective has not changed. The SPY monthly uptrend that started on 6/14/2006 has a five waves impulse structure. Fifth wave is in progress and forming the rising wedges pattern. The rising wedge appears in a mature trend characterized by overbought long-term and short-term indicators. This situation usually generates divergence on long-term indicators. Rising wedges usually marks the reversal in an uptrend. Price is near the monthly uptrend resistance line. Weekly William's Percentage Range (W%R) is overbought. Weekly Lane's Stochastic is strongly overbought. We keep bearish long-term outlook for SPY.

SPY - Trend

SPY Short-term perspective: SPY daily Lane's Stochastic is strongly overbought, and William's Percentage Range is overbought. Price is moving within the short term up channel. It has turned down after reaching the weekly uptrend resistance line. We expect SPY to test the support line next week.

SPY - Trend

Presented by www.thegreedytrader.com Research Group.

SPY Trend Analysis - 2/9/2007

All the major US indices were negative. For the week, the Dow Jones Industrial Average gave back 72.66 points, or 0.57%. The Standard Poor's 500 Index lost 10.33 points, or 0.71%, while the Nasdaq Composite gave back 16.06 points, or 0.65%.

Oscillators Trend Analysis Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly SPY

SPY Long-term perspective: Our long-term perspective has not changed. The SPY monthly uptrend that started on 6/14/2006 has a five waves impulse structure. Fifth wave is in progress and forming the rising wedges pattern. The rising wedge appears in a mature trend characterized by overbought long-term and short-term indicators. This situation usually generates divergence on long-term indicators. Rising wedges usually marks the reversal in an uptrend. Price is near the monthly uptrend resistance line. Weekly William's Percentage Range (W%R) is overbought. Weekly Lane's Stochastic is strongly overbought. We keep bearish long-term outlook for SPY.

SPY - Trend

SPY Short-term perspective: SPY daily Lane's Stochastic is strongly overbought, and William's Percentage Range is overbought. Price is moving within the short term up channel. It has turned down after reaching the weekly uptrend resistance line. We expect SPY to test the support line next week.

SPY - Trend

Presented by www.thegreedytrader.com Research Group.

SPY Trend Analysis - 2/2/2007

It was an up week for the major markets. For the week, the Dow Jones Industrial Average gained 166.47 points, or 1.33%. The Standard Poor's 500 Index gained 26.21 points, or 1.84%, while the Nasdaq Composite gained 40.39 points, or 1.66%.

Oscillators Trend Analysis Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly SPY

SPY Long-term perspective: The SPY monthly uptrend that started on 6/14/2006 has a five waves impulse structure. Fifth wave is in progress and forming the rising wedges pattern. The rising wedge appears in a mature trend characterized by overbought long-term and short-term indicators. This situation usually generates divergence on long-term indicators. Rising wedges usually marks the reversal in uptrend. Price is near the monthly uptrend resistance line. Weekly William's Percentage Range (W%R) is strongly overbought. Weekly Lane's Stochastic is overbought and has bearish divergence. The Dow Jones index is near the monthly, quarterly and yearly trends resistance also, while Nasdaq broke the monthly trend support line. We keep bearish long-term outlook for SPY.

SPY - Trend

SPY Short-term perspective: SPY daily William's Percentage Range is strongly overbought. W%R is considered as an earliest signal among other technical indicators to indicate an impending reversal. In addition, daily Lane's Stochastic has bearish divergence. Price is near the weekly trend resistance line. All these technical indicators suggest that SPY short-term perspective is bearish as well.

Presented by www.thegreedytrader.com Research Group.