NASDAQ Composite (.IXIC) inched up 9.81 points or 0.1 percent to 7,816.33
On Wall Street, stocks closed higher on Friday, recovering from a weak start. Late-day buying interest was seen after a report from the Wall Street Journal said Chinese and U.S. negotiators are drawing up a road map for talks to try to end their trade impasse. Citing officials in both nations, the Journal indicated the plan would culminate in planned meetings between President Donald Trump and Chinese leader Xi Jinping at multilateral summits in November.
The Dow climbed 110.59 points or 0.4 percent to 25,669.32, the Nasdaq inched up 9.81 points or 0.1 percent to 7,816.33 and the S&P 500 rose 9.44 points or 0.3 percent to 2,850.13.
The major European markets ended mixed on Friday. While the U.K.’s FTSE 100 Index inched up by less than a tenth of a percent, the French CAC 40 Index and the German DAX Index edged down by 0.1 percent and 0.2 percent, respectively.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 7,998.21.
The projected lower bound is: 7,641.70.
The projected closing price is: 7,819.96.
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 30 white candles and 20 black candles for a net of 10 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 39.5726. This is not an overbought or oversold reading. The last signal was a sell 5 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 52.29. 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 40 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 -16. This is not a topping or bottoming area. The last signal was a buy 11 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 2 period(s) ago.
Rex Takasugi – TD Profile
NASDAQ COMPOSITE closed up 9.806 at 7,816.330. Volume was 4% below average (neutral) and Bollinger Bands were 32% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 7,845.01 7,741.82 7,292.21
Volatility: 11 15 19
Volume: 479,056,352 520,319,328 515,446,592
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 7.2% 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 .IXIC at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .IXIC and have had this outlook for the last 10 periods.