S&P/ASX 200 (INDEXASX:XJO) Australia Outlook

S&P/ASX 200 (INDEXASX:XJO) Australia Outlook

S&P/ASX 200(INDEXASX:XJO) Australia Outlook

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 5,737.20.

The projected lower bound is: 5,516.77.

The projected closing price is: 5,626.99.

S&P/ASX 200 closed down -23.852 at 5,621.582. Volume was 11% below average (neutral) and Bollinger Bands were 21% narrower than normal.

Open              High               Low              Close          Volume
5,645.300     5,662.800     5,617.200    5,621.582   541,116,672

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

Moving Averages: 10-period           50-period         200-period
Close:                       5,650.39            5,611.80            5,429.55
Volatility:                12                        13                       15
Volume:                  583,051,456     595,160,704     607,331,520

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.

S&P/ASX 200 is currently 3.5% above its 200-period moving average and is in an downward 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 .AXJO at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .AXJO and have had this outlook for the last 8 periods.

Index, 200, S&P, ASX, Outlook, Australia, Trading, Shayne Heffernan, HEFFX

HEFFX Momentum Australia
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 31.3714. This is not an overbought or oversold reading. The last signal was a buy 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 45.79. 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 17 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 -84. This is not a topping or bottoming area. The last signal was a buy 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 sell 14 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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