Dow Jones Industrial Average (.DJI) positive sentiment boosted by finance ministers of G20 promising to get the act together to revive growth
The positive sentiment would get boosted by finance ministers of G20 promising to get the act together to revive growth, that has been slowing globally. Plus the earning season has started on a strong note, with JP Morgan reporting record quarterly profits and sales in the first three months of the year.
On the trade conflict front, US Treasury Secretary Steven Mnuchin said a US-China trade agreement would go “way beyond” previous efforts to open China’s markets to US companies and hoped that the two sides were “close to the final round” of negotiations, according to reports.
“China’s total trade with the U.S slumped by 11 per cent in the first three months of this year, suggesting a that if a US-China trade solution is sealed, it will provide a significant and needed boost to Chinas economy and will be much need shot in the arm for the global economy,” Shayne Heffernan, CEO and Founder of Heffx said. The DJIA has gained 13 per cent in the year so far, while the S&P 500 index has gained 11 per cent in the same time period.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 26,929.44.
The projected lower bound is: 25,951.67.
The projected closing price is: 26,440.55.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 7 rising windows in the last 50 candles–this makes the current rising window even more bullish.
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 41.0065. This is not an overbought or oversold reading. The last signal was a buy 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 63.36. 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 33 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 87. 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 9 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERG closed up 269.250 at 26,412.301. Volume was 11% above average (neutral) and Bollinger Bands were 38% 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: 26,266.94 25,786.99 25,267.37
Volatility: 11 12 20
Volume: 253,956,960 292,132,160 313,759,808
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 gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
DJ INDU AVERG 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 7 periods.
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