Dow Jones Industrial Average (.DJI) Futures Extend Rally
Futures on all three major U.S. indexes traded higher during the Asian session, setting the stage for a positive open in New York Tuesday morning. Futures on the Dow Jones Industrial Average rose by as much as 116 points; they were last up 86 points, or 0.3%, to trade at 26,987.00.
S&P 500 futures advanced 0.3% to 2,988.75. The Nasdaq 100 futures contract added 0.5% to 7,808.25.
U.S. equities returned anywhere from 0.5% to 2% during September, which represents a major departure from the historic trend. The S&P 500 heads into the fourth quarter with year-to-date returns of 19% – its best performance in over two decades.
Overall, the bias in prices is: Sideways.
By the way, prices are vulnerable to a correction towards 26,673.37.
The projected upper bound is: 27,692.51.
The projected lower bound is: 26,131.66.
The projected closing price is: 26,912.08.
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 27 white candles and 23 black candles for a net of 4 white 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 41.4223. This is not an overbought or oversold reading. The last signal was a buy 3 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 54.16. 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 38 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 -62. This is not a topping or bottoming area. The last signal was a sell 10 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 5 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERG closed up 96.580 at 26,916.830. Volume was 14% below average (neutral) and Bollinger Bands were 33% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 26,964.44 26,573.87 25,820.28
Volatility: 7 19 18
Volume: 260,200,144 269,678,688 294,837,024
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 4.2% 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 16 periods.
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