Australia: S&P/ASX 200 (.AXJO) big four banks all closed lower
The Australian share market has closed lower, hurt by banks, health care and consumer-exposed stocks, including Woolworths and Wesfarmers.
The benchmark S&P/ASX200 index was down 18.2 points, or 0.29 per cent, at 6,247.6 on Wednesday, while the broader All Ordinaries fell 13.5 points, or 0.21 per cent, at 6,341.7 points.
Miners extended gains on China stimulus measures announced on Monday night, but lack of follow through in Shanghai commodity trade underscored warnings the official measures were an indicator of how fragile financial conditions were in the world’s second biggest economy.
The Shanghai composite index was down 0.3 per cent at the close of the ASX.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 6,343.29.
The projected lower bound is: 6,157.90.
The projected closing price is: 6,250.60.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 42.4426. This is not an overbought or oversold reading. The last signal was a sell 10 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 54.81. 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 22 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 3. This is not a topping or bottoming area. The last signal was a sell 10 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 7 period(s) ago.
Rex Takasugi – TD Profile
S&P/ASX 200 closed down -18.200 at 6,247.600. Volume was 5% below average (neutral) and Bollinger Bands were 46% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 6,251.65 6,140.88 6,005.50
Volatility: 11 10 10
Volume: 480,536,960 555,078,720 549,351,360
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 4.0% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into .AXJO (mildly bullish). Our trend forecasting oscillators are currently bullish on .AXJO and have had this outlook for the last 24 periods.