Dow Jones Industrial Average (.DJI) up slightly as tech stocks gain
U.S. stocks were higher after the close on Wednesday, as gains in the Technology, Consumer Services and Oil & Gas sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average gained 0.23% to hit a new 6-months high, while the S&P 500 index gained 0.57%, and the NASDAQ Composite index gained 0.99%.
The best performers of the session on the Dow Jones Industrial Average were Microsoft Corporation (NASDAQ:MSFT), which rose 1.60% or 1.76 points to trade at 112.02 at the close. Meanwhile, Apple Inc (NASDAQ:AAPL) added 1.49% or 3.28 points to end at 222.98 and Visa Inc (NYSE:V) was up 1.26% or 1.83 points to 147.03 in late trade.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 25,180.43.
The projected upper bound is: 26,582.49.
The projected lower bound is: 25,723.63.
The projected closing price is: 26,153.06.
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 31 white candles and 19 black candles for a net of 12 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 92.2071. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 4 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 68.94. 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 142 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 120.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 6 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERAGE closed up 60.551 at 26,124.570. Volume was 29% below average (neutral) and Bollinger Bands were 6% 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: 25,822.82 25,138.44 24,819.99
Volatility: 10 11 18
Volume: 237,779,808 268,024,304 360,481,216
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 AVERAGE is currently 5.3% above its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 33 periods.