Australia: S&P/ASX 200 (.AXJO) very volatile

Australia: S&P/ASX 200 (.AXJO) very volatile

Australia: S&P/ASX 200 (.AXJO) very volatile

Extending overnight gains, the Australian dollar rose US0.4¢ to US71.30¢ after the rise in mortgage financing delayed expectations for a domestic rate cut ,while government 10-year bond yields rose 2.6 points to 1.90 per cent.

Keeping bullish sentiment in check, “very volatile” business business lending slumped 11.4 per cent to reverse the 10.8 per cent rise in January.

The S&P-ASX 200 index closed up just 0.5 points, or 0.01per cent, at 6221.8 with the major banks sliding despite a 0.8 per cent bounce in mortgage lending in February as Moody’s Analytics warned Sydney, Melbourne and Perth faced further heavy house-price losses this year .

“Dead yesterday, and dead most of today, as far as any sort of macro move,” said Shayne ‘Jack’ Heffernan, CEO and Founder of Heffx.

“It just seems like we need some sort of catalyst to give the market a shot in the arm.”

Overall, the bias in prices is: Upwards.

The projected upper bound is: 6,327.04.

The projected lower bound is: 6,130.46.

The projected closing price is: 6,228.75.


A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 31 white candles and 19 black candles for a net of 12 white 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 32.4866. This is not an overbought or oversold reading. The last signal was a sell 2 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 56.23. 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 48. This is not a topping or bottoming area. The last signal was a sell 2 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 buy 4 period(s) ago.

Rex Takasugi – TD Profile

S&P/ASX 200 closed up 0.400 at 6,221.800. Volume was 16% below average (neutral) and Bollinger Bands were 46% narrower than normal.

Open High Low Close Volume___
6,221.4006,228.9006,203.7006,221.800 537,072,896

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

Moving Averages: 10-period 50-period 200-period
Close: 6,209.45 6,134.24 6,026.67
Volatility: 10 10 14
Volume: 611,971,520 675,766,016 608,328,512

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 3.2% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 1 periods.

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