Dow Jones Industrial Average (.DJI) Positive earnings results and strong economic data offset tariff concerns
U.S. stocks were higher after the close on Friday, as gains in the Consumer Goods, Utilities and Telecoms sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average rose 0.54%, while the S&P 500 index climbed 0.46%, and the NASDAQ Composite index gained 0.12%
On the data front, US and Chinese consumer and business inflation both lifted.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 24,905.97.
The projected upper bound is: 25,960.34.
The projected lower bound is: 24,987.85.
The projected closing price is: 25,474.10.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 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 52.5688. This is not an overbought or oversold reading. The last signal was a sell 4 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 62.72. 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 124 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 70. This is not a topping or bottoming area. The last signal was a sell 4 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 buy 19 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERAGE closed up 136.420 at 25,462.580. Volume was 28% below average (neutral) and Bollinger Bands were 31% 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: 25,352.30 24,885.35 24,619.40
Volatility: 9 13 18
Volume: 291,282,336 308,737,600 372,324,160
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 3.4% 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 15 periods.
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