NASDAQ Composite (.IXIC) closes above 8000
Thursday’s session closes with the NASDAQ Composite Index up above 8000 points. The index first reached the 8000 mark on Aug 27, 2018. The total shares traded for the NASDAQ was over 2.49 billion.
Advancers stocks led declining by 2.68 to 1 ratio. There were 2319 advancers and 865 decliners for the day. On the NASDAQ Stock Exchange 54 stocks reached a 52 week high and 41 those reaching lows totaled.
The NASDAQ 100 index closed up 2.29% for the day; a total of 172.93 points. The current value is 7,724.83. The Kraft Heinz Company ( KHC ) had the largest percent change down (-8.63%) while Advanced Micro Devices, Inc. ( AMD ) had the largest percent change gain rising 16.2%.
The Dow Jones index closed up 1.43% for the day; a total of 371.12 points. The current value is 26,378.19. Walmart Inc. ( WMT ) had the largest percent change down (.3%) while Dow Inc. ( DOW ) had the largest percent change gain rising 4.23%.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 8,295.01.
The projected lower bound is: 7,802.98.
The projected closing price is: 8,048.99.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 7 rising windows in the last 50 candles–this makes the current rising window even more bullish.
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 43.8581. 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 48.43. 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 46 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 -47. This is not a topping or bottoming area. The last signal was a buy 0 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 15 period(s) ago.
Rex Takasugi – TD Profile
NASDAQ COMPOSITE closed up 176.330 at 8,039.156. Volume was 19% above average (neutral) and Bollinger Bands were 28% wider 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: 8,064.91 7,992.59 7,558.08
Volatility: 30 20 26
Volume: 613,653,760 571,799,232 588,220,480
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.
NASDAQ COMPOSITE gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
NASDAQ COMPOSITE is currently 6.4% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of .IXIC at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .IXIC and have had this outlook for the last 5 periods.
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