SPDR S&P 500 ETF Trust (NYSEARCA:SPY) HEFFX Outlook
*China’s April imports rose 11.9 percent, cooling from March’s 20.3 percent rise
*Exports rose 8.0 percent from a year earlier, slowing from a 16.4 percent rise in the previous month and short of expectations of 10.4 percent.
*China Market seems to have stabilized.
*Trumps tax reforms will power US economy.
*Strong employment data should underpin the US Economy.
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.
By the way, prices are vulnerable to a correction towards 234.59.
The projected upper bound is: 242.81.
The projected lower bound is: 236.20.
The projected closing price is: 239.50.
During the past 10 bars, there have been 3 white candles and 5 black candles for a net of 2 black candles. During the past 50 bars, there have been 23 white candles and 25 black candles for a net of 2 black candles.
A gravestone doji occurred. This often signifies a top (the longer the upper shadow, the more bearish the signal).
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 87.2956. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 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 63.56. 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 44 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 79. This is not a topping or bottoming area. The last signal was a sell 5 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 10 period(s) ago.
Rex Takasugi – TD Profile
SPDR S&P 500 closed down -0.250 at 239.450. Volume was 100% below average (consolidating) and Bollinger Bands were 35% wider than normal.
Open High Low Close Volume___
239.450 239.450 239.450 239.450 62,170
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 238.75 236.48 224.61
Volatility: 5 9 10
Volume: 60,326,600 78,909,736 82,508,808
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.
SPDR S&P 500 is currently 6.6% 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 SPY at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on SPY and have had this outlook for the last 8 periods.