Dow Jones Industrial Average (.DJI) is likely to post a 75 point opening bell gain

Dow Jones Industrial Average (.DJI) is likely to post a 75 point opening bell gain

Dow Jones Industrial Average (.DJI) is likely to post a 75 point opening bell gain

Global stocks rebounded modestly Tuesday, lifting U.S. equity futures into positive territory, even as investors continue to worry about developments in the various trade disputes between Washington and its major economic partners as President Donald Trump attempts to reach an agreement to overhaul NAFTA while preparing to impose a fresh set of tariffs on $200 billion worth of China-made exports.

The concerns over trade, as well as ongoing weakness in emerging market currencies linked to slowing global growth and a stronger U.S. dollar, accelerated gains for the greenback in overnight trading, boosting the dollar index to a fresh 10-day high of 95.28 against a basket of six global currencies. The appetite for dollars paralleled early gains for U.S. equity futures, which indicated the Dow Jones Industrial Average is likely to post a 75 point opening bell gain when trading kicks off later today.

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 25,215.89.

The projected upper bound is: 26,418.95.

The projected lower bound is: 25,570.82.

The projected closing price is: 25,994.88.

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 31 white candles and 19 black candles for a net of 12 white candles.

A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.

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 67.7948. 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 62.28. 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 144 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 64. This is not a topping or bottoming area. The last signal was a sell 1 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 8 period(s) ago.

Rex Takasugi – TD Profile

DJ INDU AVERAGE closed down -22.100 at 25,964.820. Volume was 9% below average (neutral) and Bollinger Bands were 2% narrower than normal.

Open High Low Close Volume___
25,964.85026,028.83025,879.77025,964.820 273,440,928

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

Moving Averages: 10-period 50-period 200-period
Close: 25,895.19 25,195.09 24,845.50
Volatility: 8 11 18
Volume: 226,509,072 264,120,176 357,787,680

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 4.5% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. 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 35 periods.

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