Dow Jones Industrial Average (.DJI) President Donald Trump said Monday that Beijing “would like to make a deal,” but “we’re not ready” for a China trade deal
Dow Jones futures rose Monday night, along with S&P 500 futures and Nasdaq futures. President Donald Trump said Monday that Beijing “would like to make a deal,” but “we’re not ready” for a China trade deal. The current stock market correction deepened last week on fears that the China trade war will last a long time. That has hurt tech stocks such as Apple (AAPL), Alibaba (BABA,) Xilinx (XLNX), Qualcomm (QCOM) and aerospace giant Boeing (BA).
Dow Jones Futures Today
Dow Jones futures rose 0.4% vs. fair value heading into a holiday-shortened trading week. Apple stock and Boeing stock are both Dow Jones components. S&P 500 futures climbed 0.4%. Nasdaq 100 futures advanced 0.5%.
Perhaps investors view Trump’s latest China trade remarks as more of the same.
Asian and European markets generally rose Monday, while U.S. stock markets were closed in observance of Memorial Day. So Dow Jones futures could be catching up. Asian markets were mostly higher Tuesday morning.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 26,134.98.
The projected lower bound is: 25,031.43.
The projected closing price is: 25,583.21.
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 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 40.0551. This is not an overbought or oversold reading. The last signal was a sell 22 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 41.59. 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 8 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 -57. This is not a topping or bottoming area. The last signal was a buy 0 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 20 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERG closed up 95.219 at 25,585.689. Volume was 33% below average (neutral) and Bollinger Bands were 11% wider than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 25,654.17 26,073.33 25,433.81
Volatility: 19 14 20
Volume: 282,873,120 295,396,960 317,809,696
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 0.6% above its 200-period moving average and is in an downward trend. Volatility is high 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 bearish on .DJI and have had this outlook for the last 12 periods.