NASDAQ Composite (.IXIC) Historical high reached as NASDAQ Composite Index closes at 7,703.79
Tuesday’s session closes with the NASDAQ Composite Index reaching a historical high. The index closed at 7,703.79 up 43.86 for the day. The index had a previous high 7689.24331 on 06/06/2018. The total shares traded for the NASDAQ was over 1.99 billion.
Advancers stocks led declining by 1.18 to 1 ratio. There were 1615 advancers and 1363 decliners for the day. On the NASDAQ Stock Exchange 125 stocks reached a 52 week high and 13 those reaching lows totaled. The most active, advancers, decliners, unusual volume and most active by dollar volume can be monitored intraday on the Most Active Stocks page.
The NASDAQ 100 index closed up .57% for the day; a total of 40.7 points. The current value is 7,209.18. American Airlines Group, Inc. ( AAL ) had the largest percent change down (-1.74%) while JD.com, Inc. ( JD ) had the largest percent change gain rising 4.62%.
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 7,376.77.
The projected upper bound is: 7,906.53.
The projected lower bound is: 7,534.40.
The projected closing price is: 7,720.47.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 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 73.3088. 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 71.26. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 3 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 98. This is not a topping or bottoming area. The last signal was a sell 2 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 7 period(s) ago.
Rex Takasugi – TD Profile
NASDAQ COMPOSITE closed up 43.869 at 7,703.794. Volume was 10% below 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: 7,603.68 7,289.88 6,999.18
Volatility: 11 17 18
Volume: 514,626,976 482,776,288 497,449,120
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 is currently 10.1% 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 moderate flows of volume into .IXIC (mildly bullish). Our trend forecasting oscillators are currently bullish on .IXIC and have had this outlook for the last 26 periods. Our momentum oscillator is currently indicating that .IXIC is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.
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