Dow Jones Industrial Average (.DJI) outperforming the Nasdaq – Live Trading News

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Dow Jones Industrial Average (.DJI) outperforming the Nasdaq

The Dow Jones Industrial Average was outperforming the technology-laden Nasdaq in midday Wednesday trade, with the intraday performance differential between the equity benchmarks set to for the widest since late July, according to Dow Jones Market Data.

The Dow DJIA, +0.09% was up less than 0.1% at 25,964, but even that slight gain was enough to outdistance the Nasdaq Composite Index’s COMP, -1.19% decline of about 1%, coming amid sharp slumps in shares of a number of social-media platforms, including Twitter Inc. TWTR, -6.06% and Facebook Inc. FB, -2.33% with executives from the those companies testifying in front of a Senate panel centered on misinformation and fake accounts during the 2016 presidential election won by President Donald Trump.

The gap between the Dow and the Nasdaq at one point on Wednesday was its widest since July 30, when the Dow was up 0.2% at its high while the Nasdaq was down 1.7% at its low for a difference of about 1.91 percentage points.

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 25,243.90.

The projected upper bound is: 26,403.74.

The projected lower bound is: 25,615.13.

The projected closing price is: 26,009.43.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 white candles.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 39.5814. This is not an overbought or oversold reading. The last signal was a sell 2 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 62.38. 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 146 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 45. This is not a topping or bottoming area. The last signal was a sell 3 period(s) ago.

MACD

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

DJ INDU AVERAGE closed up 22.510 at 25,974.990. Volume was 2% below average (neutral) and Bollinger Bands were 1% wider than normal.

Open High Low Close Volume___
25,919.84026,011.22125,871.03925,974.990 289,213,792

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 25,929.84 25,256.96 24,871.49
Volatility: 8 10 18
Volume: 231,870,464 256,734,432 356,475,136

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.

Summary

DJ INDU AVERAGE is currently 4.4% 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 .DJI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .DJI and have had this outlook for the last 37 periods.

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