UK FTSE All Share (.FTAS) closes at highest level in a month as pound sinks after ECB announcement
Retail sales surge in May; Rolls-Royce to cut thousands of jobs
U.K. stocks on Thursday finished at the highest level in about four weeks as the pound weakened following the European Central Bank’s decision to begin gradually closing the chapter on its crisis-era monetary policy.
Upbeat domestic retail sales figures offset worries about slowing economic growth in China, which had hobbled shares of mining companies in early trade.
How markets are performing
The FTSE 100 index UKX, +0.81% reversed opening losses to finish up 0.8% to 7,765.79, helping the U.K. benchmark end a two-day skid and reaching its highest level since May 2.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 4,361.70.
The projected lower bound is: 4,211.61.
The projected closing price is: 4,286.65.
A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 33 white candles and 17 black candles for a net of 16 white 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 65.3371. This is not an overbought or oversold reading. The last signal was a buy 9 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 60.92. 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 15 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 103.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 10 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.
Rex Takasugi – TD Profile
FTSE-A ALL SHARE closed up 30.580 at 4,278.700. Volume was 27% above average (neutral) and Bollinger Bands were 52% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 4,250.37 4,153.06 4,089.43
Volatility: 9 12 12
Volume: 135,872,240 136,622,896 129,101,272
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-A ALL SHARE is currently 4.6% 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 .FTAS at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .FTAS and have had this outlook for the last 7 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.