Dow Jones Industrial Average (.DJI) President Trump Predicts New Trade Deal with China

Dow Jones Industrial Average (.DJI) President Trump Predicts New Trade Deal with China

Dow Jones Industrial Average (.DJI) President Trump Predicts New Trade Deal with China

U.S. stocks pared losses Monday morning after President Donald Trump predicted the United States would soon reach a comprehensive trade deal with China.

The Dow Jones Industrial Average fell by as much as 230 points Monday morning, an extension of a volatile pre-market session for Dow futures. At the time of writing, the blue-chip index had pared its loss down to 91 points, or 0.3%, to 23,904.60. Apple Inc. (AAPL) was the worst performing stock, having declined 1.4%.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 25,013.02.

The projected lower bound is: 22,768.07.

The projected closing price is: 23,890.54.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 9 white candles and 1 black candles for a net of 8 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

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 93.9715. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 6 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 51.54. 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 12 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 88. This is not a topping or bottoming area. The last signal was a sell 0 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 AVERG closed down -86.109 at 23,909.840. Volume was 21% below average (neutral) and Bollinger Bands were 15% wider than normal.

Open High Low Close Volume___
23,880.52923,964.90023,765.24023,909.840 277,558,112

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

Moving Averages: 10-period 50-period 200-period
Close: 23,589.87 24,408.49 24,962.28
Volatility: 27 30 20
Volume: 328,520,448 375,476,320 331,109,408

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 AVERG is currently 4.2% below its 200-period moving average and is in an upward 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 bullish on .DJI and have had this outlook for the last 1 periods.

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