Dow Jones Industrial Average (.DJI) edge higher after Asia gains

Dow Jones Industrial Average (.DJI) edge higher after Asia gains

Dow Jones Industrial Average (.DJI) edge higher after Asia gains

Global stocks advanced to kick off a week filled with potentially significant catalysts from central bank meetings, geopolitical developments and economic data. Treasuries edged lower.

The Stoxx Europe 600 climbed, led higher by miners and lenders as Deutsche Bank AG and Commerzbank AG jumped after getting the green light to proceed with negotiations on a tie-up. S&P 500 futures reversed earlier losses to edge higher after the benchmark capped its best week since November. In Asia, Chinese and Hong Kong shares led the advance with Australian and South Korean equities posting more modest gains. The dollar drifted lower, while the Aussie strengthened.

Here are some key events coming up:

  • Company earnings include FedEx, China Telecom, Tencent, Porsche, BMW, Hermes, Tiffany, Micron, Nike and PetroChina.
  • The Fed is expected to hold interest rates steady, announce the end of asset roll-off from its balance sheet, and lower projections for the number of interest rate hikes this year. The decision is due Wednesday.
  • Central banks in Thailand, the Philippines and Indonesia are all scheduled for policy meetings.
  • In the euro zone, purchasing manager survey numbers on Friday will give an indication of the health of the region’s industrial and service sectors at the end of the first quarter.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 26,541.88.

The projected lower bound is: 25,255.96.

The projected closing price is: 25,898.92.


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 33 white candles and 17 black candles for a net of 16 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 88.1958. 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 59.00. 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 13 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 22. This is not a topping or bottoming area. The last signal was a buy 3 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 11 period(s) ago.

Rex Takasugi – TD Profile

DJ INDU AVERG closed up 138.930 at 25,848.869. Volume was 79% above average (neutral) and Bollinger Bands were 65% narrower than normal.

Open High Low Close Volume___
25,720.96125,927.91025,649.69925,848.869 616,907,648

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

Moving Averages: 10-period 50-period 200-period
Close: 25,669.04 25,063.79 25,152.09
Volatility: 10 17 20
Volume: 323,707,712 316,582,688 321,623,552

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 2.8% above its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of .DJI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .DJI and have had this outlook for the last 5 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.

You must be logged in to post comments :