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 moving.

Intermediate term: Prices are trending.

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

The projected upper bound is: 5,683.68.

The projected lower bound is: 5,410.65.

The projected closing price is: 5,547.16.

S&P/ASX 200 closed up 3.536 at 5,543.500. Volume was 99% below average (consolidating) and Bollinger Bands were 63% narrower than normal.

Open                High                 Low                 Close                 Volume
5,540.000       5,543.500       5,540.000      5,543.500         4,533,490

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

Moving Averages: 10-period           50-period          200-period
Close:                      5,519.54               5,373.62             5,180.19
Volatility:               11                            16                         19
Volume:                 487,003,264      581,342,528      629,032,960

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
S&P/ASX 200 is currently 7.0% 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 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 25 periods.

S&P/ASX 200

HEFFX Candlesticks S&P/ASX 200
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 33 white candles and 17 black candles for a net of 16 white candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 78.1221. This is not an overbought or oversold reading. The last signal was a buy 6 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 60.09. 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 10 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 31. This is not a topping or bottoming area. The last signal was a sell 10 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 9 period(s) ago.

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