Australia: S&P/ASX 200 (.AXJO) Futures Slip

Australia: S&P/ASX 200 (.AXJO) Futures Slip

Australia: S&P/ASX 200 (.AXJO) Futures Slip

The Australian sharemarket has fallen for a second day in a row, as index heavyweights traded lower amid escalating trade tensions between the US and China.

The S&P/ASX 200 index fell 42.5 points, or 0.7 per cent, to 6215.6 as the sharemarket experienced its biggest intraday fall since mid-May.

While ASX futures had been indicating that the market would open higher, news broke that the US had published a list detailing a further $US200 billion worth of Chinese goods that would hit with a 10 per cent tariff. The list included consumer products such as clothing, television components and refrigerators as well as other technology products, although mobile phones were omitted.

The escalating tensions between the countries sent the big financial stocks falling, as investors traded cautiously amid the increased uncertainty surrounding the future of global trade.

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 6,094.52.

The projected upper bound is: 6,306.71.

The projected lower bound is: 6,132.51.

The projected closing price is: 6,219.61.


A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

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 59.7807. This is not an overbought or oversold reading. The last signal was a sell 0 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 57.10. 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 12 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 20. This is not a topping or bottoming area. The last signal was a sell 0 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 0 period(s) ago.

Rex Takasugi – TD Profile

S&P/ASX 200 closed down -42.500 at 6,215.600. Volume was 11% below average (neutral) and Bollinger Bands were 0% wider than normal.

Open High Low Close Volume___
6,258.1006,258.1006,209.6006,215.600 503,864,768

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

Moving Averages: 10-period 50-period 200-period
Close: 6,222.89 6,109.83 5,977.00
Volatility: 10 9 10
Volume: 526,185,856 573,557,760 549,722,368

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 14 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

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