Australia: S&P/ASX 200 (^.AXJO) Flat Open

Australia: S&P/ASX 200 (^.AXJO) Flat Open

Australia: S&P/ASX 200 (^.AXJO) Flat Open

The S&P/ASX 200 index has closed 0.9 points lower, a decline of 0.02 per cent, as energy stocks tried to counteract the down pull from the financial index. The Hang Seng index is down 1.6 per cent and the Shanghai composite is down 1.06 per cent.

Among the top 200 companies in Australia energy stocks today out-performed the market with a rise of 2 per cent today, followed by a 0.5 per cent rise in the materials index.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 6,277.28.

The projected lower bound is: 6,093.81.

The projected closing price is: 6,185.55.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Momentum Indicators

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 65.0937. This is not an overbought or oversold reading. The last signal was a buy 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 45.68. 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 66 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 66. This is not a topping or bottoming area. The last signal was a buy 9 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 buy 2 period(s) ago.

Rex Takasugi – TD Profile

S&P/ASX 200 closed down -1.000 at 6,185.900. Volume was 3% below average (neutral) and Bollinger Bands were 49% wider than normal.

Open High Low Close Volume___
6,186.9006,192.2006,166.8006,185.900 559,053,120

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

Moving Averages: 10-period 50-period 200-period
Close: 6,174.33 6,249.93 6,075.11
Volatility: 8 9 11
Volume: 640,631,296 587,859,200 566,100,352

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 1.8% above its 200-period moving average and is in an downward trend. Volatility is high 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 bearish on .AXJO and have had this outlook for the last 13 periods.

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