UK FTSE All Share (.FTAS) ends down slightly as trade tensions remain in focus
U.K. stocks finished slightly lower on Thursday, erasing a bit of the prior session’s rally, as uncertainty over U.S. President Donald Trump’s trade policies on China lingered.
What are markets doing?
The FTSE 100 index UKX, -0.08% dipped 0.1% to close at 7,615.63. The blue-chip benchmark pulled back after rallying 1.1% in Wednesday’s volatile session, when Trump eased fears of a full-blown trade war by pedaling back a plan to restrict Chinese investment in the U.S.
The London benchmark is down 0.9% for the week so far, and it’s also off 0.9% for the year.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 4,281.26.
The projected lower bound is: 4,104.10.
The projected closing price is: 4,192.68.
A black body occurred (because prices closed lower 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 31 white candles and 19 black candles for a net of 12 white candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
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 40.9940. This is not an overbought or oversold reading. The last signal was a buy 4 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 47.76. 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 25 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 -59. This is not a topping or bottoming area. The last signal was a buy 1 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 24 period(s) ago.
Rex Takasugi – TD Profile
FTSE-A ALL SHARE closed down -8.530 at 4,188.600. Volume was 10% below average (neutral) and Bollinger Bands were 31% 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: 4,189.64 4,197.22 4,096.22
Volatility: 20 13 12
Volume: 151,721,248 142,446,576 131,429,424
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 2.3% above 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 .FTAS at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .FTAS and have had this outlook for the last 17 periods.