S&P / ASX 200 (INDEXASX:XJO) Trading Outlook

S&P / ASX 200 (INDEXASX:XJO) Trading Outlook

S&P / ASX 200 (INDEXASX:XJO) Trading Outlook

HEFFX Notes S&P / ASX 200

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 5,667.22.

The projected lower bound is: 5,392.74.

The projected closing price is: 5,529.98.

S&P / ASX 200 closed up 18.863 at 5,526.683. Volume was 6% below average (neutral) and Bollinger Bands were 65% narrower than normal.

Open                    High                   Low                    Close                   Volume
5,507.800           5,533.100          5,504.500         5,526.683           566,634,432

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

Moving Averages: 10-period                  50-period                200-period
Close:                       5,531.45                    5,382.73                   5,184.76
Volatility:                8                                 17                                 19
Volume:                  551,528,256              592,424,832           632,079,936

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.

S&P / ASX 200 is currently 6.6% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of .AXJO at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .AXJO and have had this outlook for the last 28 periods.


HEFFX Momentum S&P / ASX 200
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 52.5560. This is not an overbought or oversold reading. The last signal was a buy 9 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 56.54. 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 13 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 -4. This is not a topping or bottoming area. The last signal was a sell 13 period(s) ago.

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 12 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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