Dow Jones Industrial Average (.DJI) Sets New Closing High
The Dow Jones Industrial Average and S&P 500 marked new closing highs Tuesday, after a quiet session in which small caps sharply lagged.
The S&P 500 and Dow Jones Industrial Average each advanced 0.3%, while the Nasdaq composite added 0.2%. Small caps as tracked by the Russell 2000 fell 0.8%. Preliminary data showed lighter volume on both the NYSE and Nasdaq vs. Monday.
Verizon (VZ) and Cisco (CSCO) were the biggest winners on the Dow Jones index. Verizon, up 2.6%, has been finding support along its 200-day moving average as it consolidates. Cisco rose nearly 2% as the networking giant found support at its 50-day moving average. Both stocks are near all-time highs: Verizon is 6% below its high; Cisco is 3% off its peak.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 26,125.20.
The projected upper bound is: 27,382.75.
The projected lower bound is: 26,201.63.
The projected closing price is: 26,792.19.
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 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 59.4131. This is not an overbought or oversold reading. The last signal was a buy 1 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 67.51. 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 20 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 75. This is not a topping or bottoming area. The last signal was a sell 5 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 18 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERG closed up 69.250 at 26,786.680. Volume was 24% below average (neutral) and Bollinger Bands were 15% wider 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: 26,641.95 26,049.95 25,469.39
Volatility: 8 15 20
Volume: 304,446,272 284,838,144 321,695,072
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 5.2% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. 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 14 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.