Dow Jones Industrial Average (.DJI) Industrial Average down 0.18%

Dow Jones Industrial Average (.DJI) Industrial Average down 0.18%

Dow Jones Industrial Average (.DJI) Industrial Average down 0.18%

At the close in NYSE, the Dow Jones Industrial Average lost 0.18%, while the S&P 500 index declined 0.03%, and the NASDAQ Composite index gained 0.06%.

The best performers of the session on the Dow Jones Industrial Average were McDonald’s Corporation (NYSE:MCD), which rose 1.85% or 2.88 points to trade at 158.92 at the close. Meanwhile, Pfizer Inc (NYSE:PFE) added 1.40% or 0.57 points to end at 41.41 and American Express Company (NYSE:AXP) was up 0.79% or 0.81 points to 102.78 in late trade.

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 24,937.32.

The projected upper bound is: 26,062.67.

The projected lower bound is: 25,153.72.

The projected closing price is: 25,608.20.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 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 86.5439. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 7 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 64.67. 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 127 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 110.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 7 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 22 period(s) ago.

Rex Takasugi – TD Profile

DJ INDU AVERAGE closed down -45.160 at 25,583.750. Volume was 33% below average (neutral) and Bollinger Bands were 36% narrower than normal.

Open High Low Close Volume___
25,615.72125,634.10925,557.48025,583.750 217,774,320

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 25,453.76 24,941.12 24,654.73
Volatility: 7 12 18
Volume: 283,206,016 302,669,728 370,324,256

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 AVERAGE is currently 3.8% 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 18 periods.

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