Australia: S&P/ASX 200 (.AXJO) Set to Open Lower

Australia: S&P/ASX 200 (.AXJO) Set to Open Lower

Australia: S&P/ASX 200 (.AXJO) Set to Open Lower

The Australian sharemarket extended yesterday’s gains in early trade but failed to capitalise on solid jobs data as the dollar and bond yields rallied.

The S&P-ASX 200 index was up 0.4 per cent in morning trade after the US s&P 500 index rose 0.2 per cent last night, but it slipped on the jobs numbers to close up 17.6 points, or 0.28 per cent, at 6262.7.

Normally volatile jobs data showed the economy created 50,900 jobs last month, easily beating forecasts for a 16,500, with most of the growth coming from a rebound in full-time jobs.

The best performing sector is Industrials adding 1.2 per cent, while the worst performing sector is Utilities shedding 0.98 per cent.

The best performing stock in the S&P/ASX 200 is Afterpay Touch Group Limited (ASX:APT), rising 15.4 per cent to $12.60, followed by shares in CIMIC Group Limited (ASX:CIM) and Seven Group Holdings (ASX:SVW).

Overall, the bias in prices is: Upwards.

The projected upper bound is: 6,354.66.

The projected lower bound is: 6,176.93.

The projected closing price is: 6,265.79.


A white body occurred (because prices closed higher 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 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 42.6989. This is not an overbought or oversold reading. The last signal was a sell 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 59.36. 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 18 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 57. This is not a topping or bottoming area. The last signal was a sell 6 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 3 period(s) ago.

Rex Takasugi – TD Profile

S&P/ASX 200 closed up 17.600 at 6,262.700. Volume was 2% below average (neutral) and Bollinger Bands were 48% narrower than normal.

Open High Low Close Volume___
6,245.1006,274.2006,243.1006,262.700 548,267,968

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

Moving Averages: 10-period 50-period 200-period
Close: 6,252.16 6,129.70 5,993.94
Volatility: 11 9 11
Volume: 480,350,048 562,453,248 549,566,336

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 4.5% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. 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 20 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.