Dow Jones Industrial Average (.DJI) ends higher, helped by tech rally
Markets on edge before July 6 China tariff deadline
Tesla down after Model 3 milestone as doubts persist
Strong construction, factory data help pare losses
Indexes end up: Dow 0.15 pct, S&P 0.31 pct, Nasdaq 0.76 pct
Wall Street ended higher on Monday after a choppy session, with gains in Apple and other technology stocks offsetting worries about an escalating trade war between Washington and its trading partners.
Microsoft Inc, Facebook Inc and Apple Inc each rose 1 percent or more, pushing the S&P 500 information technology index up 0.99 percent, bringing gains for the year-to-date to 11 percent as investors bet on strong earnings from Silicon Valley in the approaching quarterly reporting season.
Wall Street suffered steep losses at the start of the session, but reversed course later.
The Dow Jones Industrial Average rose 0.15 percent to end at 24,307.18 points, while the S&P 500 gained 0.31 percent to 2,726.71. The Nasdaq Composite added 0.76 percent to 7,567.69.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 24,827.77.
The projected lower bound is: 23,780.36.
The projected closing price is: 24,304.06.
A white body occurred (because prices closed higher 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 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 44.3752. This is not an overbought or oversold reading. The last signal was a buy 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 40.68. 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 101 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 -80. This is not a topping or bottoming area. The last signal was a buy 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 sell 10 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERAGE closed up 35.770 at 24,307.180. Volume was 35% below average (neutral) and Bollinger Bands were 22% 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: 24,384.88 24,616.97 24,334.32
Volatility: 12 14 18
Volume: 349,169,056 347,787,680 376,052,576
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 0.1% 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 6 periods.