Dow Jones Industrial Average (.DJI) edged higher on Friday
- Nike shares surge after strong results, forecast
- Financials gain after lenders pass Fed’s stress test
- Core PCE hits Fed’s 2 percent target
- Indexes up: Dow 0.2 pct, S&P 0.1 pct, Nasdaq 0.1 pct
Wall Street’s major stock indexes edged higher on Friday, as a surge in Nike Inc shares helped the quarter close out on an upswing while concerns over U.S. international trade relations ebbed.
For the quarter, the Dow, the S&P 500 and the Nasdaq all posted gains. The Dow edged up 0.7 percent, the S&P 500 rose 2.94 percent, and the tech-heavy Nasdaq jumped 6.33 percent. The small-cap Russell 2000, whose components are more domestically focused than their large-cap counterparts, climbed 7.4 percent.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 24,793.54.
The projected lower bound is: 23,733.54.
The projected closing price is: 24,263.54.
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 24 white candles and 26 black candles for a net of 2 black candles.
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
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 28.9688. This is not an overbought or oversold reading. The last signal was a buy 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 39.44. 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 100 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 -67. This is not a topping or bottoming area. The last signal was a buy 0 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 9 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERAGE closed up 55.359 at 24,271.410. Volume was 12% below average (neutral) and Bollinger Bands were 17% wider than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 24,452.90 24,620.09 24,323.80
Volatility: 12 14 18
Volume: 358,464,576 353,660,832 376,320,960
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 AVERAGE is currently 0.2% below its 200-period moving average and is in an downward 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 bearish on .DJI and have had this outlook for the last 5 periods.
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