Australia: S&P/ASX 200 (.AXJO) Set to Open Higher
Australian shares are poised to open higher, bolstered by gains on Wall Street and in Europe. ASX futures up 18 points.. The Australian dollar slips.
Here’s a short recap of the Australian market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) lower 0.61% to 6,203.60
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) lower 0.61% to 6,288.40
- AUD/USD at US 74 cents
- Gold at US$1,242.70 an ounce
- Brent Oil at US$71.52 a barrel
The major banks traded higher but their gains did little to move the market. Commonwealth Bank was the best of the big four, rising 0.3 per cent to $74.49, adding just 1.6 points to the index.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 6,293.29.
The projected lower bound is: 6,118.68.
The projected closing price is: 6,205.98.
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 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 33.6902. This is not an overbought or oversold reading. The last signal was a sell 4 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 52.47. 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 16 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 -36. This is not a topping or bottoming area. The last signal was a sell 4 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 1 period(s) ago.
Rex Takasugi – TD Profile
S&P/ASX 200 closed down -37.900 at 6,203.600. Volume was 19% below average (neutral) and Bollinger Bands were 48% 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: 6,241.27 6,123.54 5,988.46
Volatility: 11 9 11
Volume: 477,474,528 563,512,832 549,053,248
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 3.6% 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 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 18 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.