Dow Jones Industrial Average (.DJI) – US Indexes End Mostly Flat Again on Thursday
The Dow Jones Industrial Average closed at 29,160.09 on Thursday with a loss of 26.18 points or -0.09%. The S&P 500 closed at 3,325.54 for a gain of 3.79 points or 0.11%. The Nasdaq Composite closed at 9,402.48 for a gain of 18.71 points or 0.20%. The VIX Volatility Index was higher at 13.00 for a gain of 0.09 points or 0.70%.
U.S. stocks closed mostly flat for a second day. In China, more cities were put on lockdown due to risks of an identified pneumonia virus. However, the World Health Organization has not yet designated the outbreak as a global health emergency.
Major earnings releases included:
- Travelers (NYSE:TRV): Net earned premium of $7.25 billion increased 4.3% year over year and missed estimates by $10 million. Fourth-quarter GAAP earnings of $3.35 per share beat estimates by 16 cents and non-GAAP earnings of $3.32 beat estimates by 5 cents.
- Procter & Gamble (NYSE:PG): Revenue of $18.24 billion increased 4.6% year over year and missed estimates by $130 million. Second-quarter GAAP earnings of $1.41 per share beat estimates by 3 cents and non-GAAP earnings of $1.42 beat estimates by 5 cents.
- Intel (NASDAQ:INTC): Revenue of $20.21 billion increased 8.3% year over year and beat estimates by $980 million. Fourth-quarter GAAP earnings of $1.58 per share beat estimates by 35 cents and non-GAAP earnings of $1.52 beat estimates by 27 cents.
- American Airlines (NASDAQ:AAL): Revenue of $11.31 billion increased 3.4% year over year and missed estimates by $20 million. Fourth-quarter GAAP earnings of 95 cents per share missed estimates by 16 cents and non-GAAP earnings of $1.15 missed estimates by 1 cent.
- Southwest Airlines (NYSE:LUV): Revenue of $5.73 billion increased 0.5% year over year and missed estimates by $10 million. Fourth-quarter GAAP earnings of 98 cents per share missed estimates by 10 cents and non-GAAP earnings of $1.16 beat estimates by 7 cents.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 28,255.05.
The projected upper bound is: 29,601.04.
The projected lower bound is: 28,778.29.
The projected closing price is: 29,189.67.
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 32 white candles and 18 black candles for a net of 14 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 58.2116. This is not an overbought or oversold reading. The last signal was a sell 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 64.76. 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 2 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 49. This is not a topping or bottoming area. The last signal was a sell 1 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 9 period(s) ago.
Rex Takasugi – TD Profile
DJ INDU AVERG closed down -26.180 at 29,160.090. Volume was 21% above average (neutral) and Bollinger Bands were 9% 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: 29,084.57 28,333.58 26,951.19
Volatility: 8 9 14
Volume: 284,463,104 254,275,648 264,267,952
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 8.2% 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 28 periods.
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