NASDAQ Composite (.IXIC) lower at close of trade

NASDAQ Composite (.IXIC) lower at close of trade

NASDAQ Composite (.IXIC) lower at close of trade

At the close in NYSE, the Dow Jones Industrial Average fell 0.54%, while the S&P 500 index lost 0.49%, and the NASDAQ Composite index declined 0.86%.

The best performers of the session on the Dow Jones Industrial Average were Johnson & Johnson (NYSE:JNJ), which rose 0.93% or 1.13 points to trade at 122.71 at the close. Meanwhile, Exxon Mobil Corp (NYSE:XOM) added 0.59% or 0.48 points to end at 82.24 and Verizon Communications Inc (NYSE:VZ) was up 0.56% or 0.28 points to 50.70 in late trade.

The worst performers of the session were Nike Inc (NYSE:NKE), which fell 2.64% or 2.07 points to trade at 76.28 at the close. Caterpillar Inc (NYSE:CAT) declined 1.80% or 2.46 points to end at 133.83 and Apple Inc (NASDAQ:AAPL) was down 1.74% or 3.26 points to 183.92.

The top performers on the S&P 500 were Acuity Brands Inc (NYSE:AYI) which rose 12.75% to 132.05, Scana Corporation (NYSE:SCG) which was up 4.05% to settle at 40.36 and Albemarle Corp (NYSE:ALB) which gained 3.36% to close at 96.62.

The worst performers were Micron Technology Inc (NASDAQ:MU) which was down 5.51% to 51.48 in late trade, Lam Research Corp (NASDAQ:LRCX) which lost 3.35% to settle at 167.25 and Qorvo Inc (NASDAQ:QRVO) which was down 3.32% to 77.44 at the close.

The top performers on the NASDAQ Composite were Anavex Life Sciences Corp (NASDAQ:AVXL) which rose 43.61% to 3.820, Micronet Enertec Technologies Inc (NASDAQ:MICT) which was up 31.71% to settle at 1.620 and Juniper Pharmaceuticals Inc (NASDAQ:JNP) which gained 31.61% to close at 11.450.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 7,683.25.

The projected lower bound is: 7,337.07.

The projected closing price is: 7,510.16.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 30 white candles and 20 black candles for a net of 10 white candles.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 53.4505. 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 45.62. 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 8 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 -63. This is not a topping or bottoming area. The last signal was a buy 2 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 8 period(s) ago.

Rex Takasugi – TD Profile

NASDAQ COMPOSITE closed down -65.013 at 7,502.674. Volume was 44% below average (neutral) and Bollinger Bands were 26% narrower than normal.

Open High Low Close Volume___
7,593.6287,594.3277,498.4977,502.674 298,407,584

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 7,581.04 7,447.99 7,092.44
Volatility: 19 15 19
Volume: 625,002,752 533,217,664 511,085,312

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.

Summary

NASDAQ COMPOSITE is currently 5.8% above its 200-period moving average and is in an downward trend. Volatility is 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 4 periods.

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