NASDAQ Composite (.IXIC) Target 8000

NASDAQ Composite (.IXIC) Target 8000

NASDAQ Composite (.IXIC) Target 8000

Monday’s session closes with the NASDAQ Composite Index at 7,821.01. The total shares traded for the NASDAQ was over 1.68 billion.

Advancers stocks led declining by 1.54 to 1 ratio. There were 1846 advancers and 1201 decliners for the day. On the NASDAQ Stock Exchange 92 stocks reached a 52 week high and 29 those reaching lows totaled.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 8,002.75.

The projected lower bound is: 7,646.28.

The projected closing price is: 7,824.52.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

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 53.7250. This is not an overbought or oversold reading. The last signal was a sell 6 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 52.69. 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 41 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 -13. This is not a topping or bottoming area. The last signal was a buy 12 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 3 period(s) ago.

Rex Takasugi – TD Profile

NASDAQ COMPOSITE closed up 4.676 at 7,821.006. Volume was 18% below average (neutral) and Bollinger Bands were 31% narrower than normal.

Open High Low Close Volume___
7,834.3747,837.1397,787.8997,821.006 411,861,760

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

Moving Averages: 10-period 50-period 200-period
Close: 7,841.15 7,745.33 7,297.74
Volatility: 10 15 19
Volume: 470,873,824 519,204,320 515,045,952

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.

Summary

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 11 periods.

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