Dow Jones Industrial Average (.DJI) closes lower as Apple, Boeing shares slump

Dow Jones Industrial Average (.DJI) closes lower as Apple, Boeing shares slump

Dow Jones Industrial Average (.DJI) closes lower as Apple, Boeing shares slump

U.S. stocks retreated Monday, but finished above session lows, as investors scaled back expectations for interest-rate cuts following last week’s strong June jobs report.

What are major indexes doing?
The Dow Jones Industrial Average DJIA, -0.43% fell 115.98 points, or 0.4%, to close at 26,806.14, while the S&P 500 index SPX, -0.48% declined 14.47 points, or 0.5%, to finish at 2,975.95. The Nasdaq Composite Index COMP, -0.78% declined 63.41 points, or 0.8%, to end at 8,098.38.

At session lows, the Dow had lost 177.25 points, or roughly 0.7%, the S&P retreated 20.29 points, also 0.7%, while the Nasdaq traded as many as 83.4 points lower, a loss of 1%.

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 26,167.73.

The projected upper bound is: 27,404.16.

The projected lower bound is: 26,221.88.

The projected closing price is: 26,813.02.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white 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 84.2574. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 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 64.01. 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 1 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 64. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 21 period(s) ago.

Rex Takasugi – TD Profile

DJ INDU AVERG closed down -115.979 at 26,806.141. Volume was 25% below average (neutral) and Bollinger Bands were 1% narrower than normal.

Open High Low Close Volume___
26,835.64126,839.14126,744.86926,806.141 214,290,080

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

Moving Averages: 10-period     50-period     200-period
Close: 26,713.75 26,069.53 25,480.54
Volatility: 7 15 20
Volume: 259,609,072 278,128,352 320,967,264

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.

Summary

DJ INDU AVERG is currently 5.2% 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 17 periods.

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