UK FTSE 100 (.FTSE) PM Theresa May was backed by her cabinet on her current Brexit negotiating stance
FTSE 100 closed in positive territory as US shares went higher amid a flurry of earnings and PM Theresa May was backed by her cabinet on her current Brexit negotiating stance.
The UK blue-chip index closed around 30 points higher at 7,059.
The FTSE 250, a more UK company focused index, added around 328 points to 19,131.
On Wall Street, the Dow Jones Industrial Average added 355 points at the time of writing, while the S&P 500 is up over 39.
The Nasdaq index is up 139 points after tech stocks dragged it down yesterday.
Top riser on Footsie was online retail Ocado Group plc (LON:OCDO), which added 5.52% to stand at 833.40p, while British American Tobacco plc (LON:BATS) was top loser, shedding 4.64% to 3,176.50p
The FTSE 100 reached into positive territory late Tuesday afternoon, while US stocks marched higher on the back of bank results that beat expectations.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
By the way, prices are vulnerable to a correction towards 7,346.14.
The projected upper bound is: 7,207.33.
The projected lower bound is: 6,887.29.
The projected closing price is: 7,047.31.
A white body occurred (because prices closed higher 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 22 white candles and 28 black candles for a net of 6 black 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 18.7339. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 11 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 30.37. This is not a topping or bottoming area. However, the RSI just crossed above 30 from a bottoming formation. This is a bullish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 0 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 -93. This is not a topping or bottoming area. The last signal was a buy 0 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 7 period(s) ago.
Rex Takasugi – TD Profile
FTSE 100 INDEX closed up 30.180 at 7,059.400. Volume was 1% below average (neutral) and Bollinger Bands were 145% wider than normal.
Open High Low Close Volume___
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 7,195.53 7,428.31 7,470.06
Volatility: 17 14 14
Volume: 855,329,216 750,618,112 818,038,400
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.
FTSE 100 INDEX is currently 5.5% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of .FTSE at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .FTSE and have had this outlook for the last 4 periods.