Dow Jones Industrial Average (.DJI) Bounces Back
The Dow and broader U.S. stock market advanced on Thursday, as investors found a silver lining in the recent string of downbeat data releases. By this time next week, markets will have a clearer picture of whether the Federal Reserve will indeed lower interest rates at its end-of-July policy meeting.
DOW RISES; S&P 500, NASDAQ FOLLOW
All of Wall Street’s major indexes reported gains on Thursday. The Dow Jones Industrial Average rose by as much as 142 points before backtracking later. It settled up 101.94 points, or 0.4%, at 26,106.77.
The broad S&P 500 Index of large-cap stocks climbed 0.4% to 2,891.64. Seven of 11 primary sectors reported gains, led by energy. Oil stocks rose more than 1% as crude prices staged a major relief rally on Thursday. Shares of communication services and discretionary companies also advanced sharply.
Meanwhile, the technology-focused Nasdaq Composite Index climbed 0.6% to 7,837.13.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 26,683.81.
The projected lower bound is: 25,526.84.
The projected closing price is: 26,105.32.
A white body occurred (because prices closed higher 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 25 white candles and 25 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 71.9081. This is not an overbought or oversold reading. The last signal was a sell 1 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 58.50. 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 buy 7 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 93. This is not a topping or bottoming area. The last signal was a sell 1 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 5 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERG closed up 101.939 at 26,106.770. Volume was 26% below average (neutral) and Bollinger Bands were 26% wider than normal.
Open High Low Close Volume___
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 25,643.40 26,000.00 25,433.97
Volatility: 16 14 20
Volume: 261,574,400 279,913,376 319,618,016
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.
DJ INDU AVERG is currently 2.6% 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 .DJI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .DJI and have had this outlook for the last 1 periods.