Dow Jones Industrial Average (.DJI) top stocks have broken out into buy zones
Dow Jones futures were little changed Sunday night, along with S&P 500 futures and Nasdaq futures. The current stock market rally recently ended a short pause, with the Dow Jones, S&P 500 index and Nasdaq composite rallying to their best levels since early December. A growing number of top stocks have broken out into buy zones, including Boeing (BA), Salesforce.com(CRM), Mastercard (MA), Xilinx (XLNX) and Workday (WDAY). Note the absence of Apple stock and FANG stocks.
The major indexes are far from highs, but the current stock market rally has shifted into a new phase: a tradable rally for top stocks.
Dow Jones Futures Today
Dow Jones futures were about even with fair value. S&P 500 futures were flat. Nasdaq 100 futures rose 0.1%. Remember that Dow futures and other overnight action don’t necessarily translate in actual trading in the next regular session.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 26,144.81.
The projected lower bound is: 23,969.00.
The projected closing price is: 25,056.90.
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 29 white candles and 21 black candles for a net of 8 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 86.3160. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 7 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 63.45. 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 25 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 140.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. 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 21 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERG closed up 64.221 at 25,063.891. Volume was 3% above average (neutral) and Bollinger Bands were 16% narrower than normal.
Open High Low Close Volume___
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 24,716.35 24,170.99 24,985.00
Volatility: 17 29 20
Volume: 368,191,616 373,524,064 329,678,752
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 0.3% 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 moderate flows of volume into .DJI (mildly bullish). Our trend forecasting oscillators are currently bullish on .DJI and have had this outlook for the last 14 periods.