NASDAQ Composite (.IXIC) Historical high reached

NASDAQ Composite (.IXIC) Historical high reached

NASDAQ Composite (.IXIC) Historical high reached

Wednesday’s session closes with the NASDAQ Composite Index reaching a historical high. The index closed at 8,109.69 up 79.65 for the day. The index had a previous high 8030.03834 on 08/28/2018. The total shares traded for the NASDAQ was over 1.89 billion.

Advancers stocks led declining by 1.53 to 1 ratio. There were 1823 advancers and 1195 decliners for the day. On the NASDAQ Stock Exchange 114 stocks reached a 52 week high and 15 those reaching lows totaled.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 7,740.33.

The projected upper bound is: 8,300.20.

The projected lower bound is: 7,934.54.

The projected closing price is: 8,117.37.



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 95.7559. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 13 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 72.03. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 48 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 184.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 19 period(s) ago.



Rex Takasugi – TD Profile

NASDAQ COMPOSITE closed up 79.649 at 8,109.687. Volume was 15% below average (neutral) and Bollinger Bands were 20% narrower than normal.

Open High Low Close Volume___
8,044.3418,113.5568,042.1028,109.687 428,414,784

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

Moving Averages: 10-period 50-period 200-period
Close: 7,917.42 7,779.15 7,339.77
Volatility: 7 15 19
Volume: 443,146,592 494,018,272 512,381,792




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