NASDAQ Composite (INDEXNASDAQ:.IXIC) HEFFX Technicals

NASDAQ Composite (INDEXNASDAQ:.IXIC) HEFFX Technicals

NASDAQ Composite (INDEXNASDAQ:.IXIC) HEFFX Technicals

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 5,028.97.

The projected upper bound is: 5,384.00.

The projected lower bound is: 5,092.25.

The projected closing price is: 5,238.13.

Momentum Indicators Say Sell

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 73.8484. This is not an overbought or oversold reading. The last signal was a sell 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 68.90. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 2 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 93. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 2 period(s) ago.

NASDAQ COMPOSITE closed up 4.496 at 5,232.895. Volume was 22% below average (neutral) and Bollinger Bands were 24% narrower than normal.

Open High Low Close Volume___
5,219.6595,233.3375,215.5455,232.895 338,977,024

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 5,197.35 4,987.34 4,859.05
Volatility: 10 19 21
Volume: 393,873,216 441,887,424 459,486,272

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

NASDAQ COMPOSITE is currently 7.7% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume into .IXIC (bullish). Our trend forecasting oscillators are currently bullish on .IXIC and have had this outlook for the last 24 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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