Dow Jones Industrial Average (.DJI) shakes off Boeing woes
U.S. stocks closed modestly higher Monday, as investors prepared for a meeting of Federal Reserve policy makers to begin Tuesday, while losses for aircraft maker Boeing again dragged on the Dow Jones Industrial Average but didn’t stop the blue-chip gauge from scoring its fourth straight gain.
Investors continue to keep an eye on U.S.-China trade talks. A proposed summit between President Donald Trump and China’s Xi Jinping to end the trade battle between the two countries may be pushed back to June, the South China Morning Post reported over the weekend. The proposed meeting had been originally targeted for March, then pushed back to April amid slow-moving trade talks.
Shares of Dow component Boeing Co. BA, -1.77% fell 1.8% Monday. The Wall Street Journal reported Sunday that federal prosecutors and Department of Transportation officials were scrutinizing the development of the company’s 737 MAX jetliners. The report said it wasn’t immediately clear whether the probe was related to scrutiny of the Federal Aviation Administration by the Transportation Department’s inspector general’s office.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 26,545.04.
The projected lower bound is: 25,412.28.
The projected closing price is: 25,978.66.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 34 white candles and 16 black candles for a net of 18 white candles.
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 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 90.5910. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 5 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 60.57. 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 14 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 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 sell 12 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERG closed up 65.230 at 25,914.100. Volume was 12% below average (neutral) and Bollinger Bands were 65% narrower 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: 25,678.49 25,128.34 25,158.32
Volatility: 9 15 20
Volume: 324,474,496 314,161,376 321,515,072
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 3.0% above its 200-period moving average and is in an downward 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 bearish on .DJI and have had this outlook for the last 6 periods.
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