Dow Jones Industrial Average (.DJI) Finishes Flat, Nasdaq Closes Up 11

Dow Jones Industrial Average (.DJI) Finishes Flat, Nasdaq Closes Up 11

Dow Jones Industrial Average (.DJI) Finishes Flat, Nasdaq Closes Up 11

Major U.S. stock indexes closed mostly higher Tuesday, led by health care companies, retailers and banks.

The modest gains nudged the S&P 500 and Nasdaq to all-time highs for the second straight day. The Dow Jones Industrial Average finished essentially flat.

Investors weighed another batch of mostly solid company earnings reports. Sprint soared after a federal judge cleared a major obstacle to the company being acquired by T-Mobile. Microsoft and Facebook slumped after federal regulators announced they’ve ramped up an antitrust probe into the two companies as well as Amazon, Apple and Google parent Alphabet.

Cruise operators, hotels and other companies that focus on travel made solid gains, the latest sign that traders are feeling less worried about the economic impact from the virus outbreak that began in China.

“Stocks are collectively saying, ‘hey, maybe we can work past some of the noise with the virus; maybe the fallout won’t be as big as we thought,” said Willie Delwiche, investment strategist at Baird. “And the U.S. economy, so far at least, looks like it’s weathering it pretty well.”

The S&P 500 index rose 5.66 points, or 0.2%, to 3,357.75. The Dow Jones Industrial Average slipped 0.48 points, or less than 0.1%, to 29,276.34. It had been up 0.5%.

Technical Indicators

Overall, the bias in prices is: Upwards.

The projected upper bound is: 29,899.49.

The projected lower bound is: 28,697.68.

The projected closing price is: 29,298.59.

Candlesticks

A black body occurred (because prices closed lower 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 29 white candles and 21 black candles for a net of 8 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 74.0555. This is not an overbought or oversold reading. The last signal was a sell 0 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 58.38. 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 15 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 94. This is not a topping or bottoming area. The last signal was a buy 5 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 3 period(s) ago.

Rex Takasugi – TD Profile

DJ INDU AVERG closed down -0.480 at 29,276.340. Volume was 8% above average (neutral) and Bollinger Bands were 15% wider than normal.

Open     High      Low     Close     Volume___
29,390.71129,415.39129,210.47129,276.340 281,852,160
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 28,938.37 28,591.44 27,111.95
Volatility: 20 13 15
Volume: 309,933,248 271,951,424 266,493,888

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 8.0% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 0 periods.

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