Wall Street Week Ahead S&P 500 (INDEXSP:.INX)
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
By the way, prices are vulnerable to a correction towards 211.23.
The projected upper bound is: 222.70.
The projected lower bound is: 212.02.
The projected closing price is: 217.36.
SPDR S&P 500 closed up 0.350 at 217.120. Volume was 16% below average (neutral) and Bollinger Bands were 19% wider than normal.
Open High Low Close Volume___
216.460 217.540 216.130 217.120 79,519,440
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 216.70 210.79 204.15
Volatility: 5 16 18
Volume: 65,638,856 99,206,152 116,296,488
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 6.4% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume into SPY (mildly bullish). Our trend forecasting oscillators are currently bullish on SPY and have had this outlook for the last 15 periods.
Momentum is Turning Negative
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 67.2350. This is not an overbought or oversold reading. The last signal was a sell 8 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 63.94. 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 buy 132 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 95. This is not a topping or bottoming area. The last signal was a sell 9 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 2 period(s) ago.