Wall Street Highlights
SP500 is approaching the psychologically crucial 5500 mark.
The Nasdaq 100 hits record levels as interest in technology equities remains robust.
The Dow Jones Industrial Average is attempting to find equilibrium over the 50 D- MA around 38,783 mark.
Current Scenario in Wall Street
Against increasing Bond rates, the SP&500 in Wall Street continues to build up momentum. The dividend yield on two-year Bonds surged near 4.75 percent, as well as USD strength. Whereas the coupon rate on the ten-year bond remained over 4.25 percent. Investors looked over increasing Treasury rates and concentrated on the likelihood of AI specific equities.
Technology companies featured among the SP500 index top winners. At the same time, utility and medical firms have been under strain. Currently, investors got the opportunity to examine the New York Empire State’s Manufacturers Indicator. According to the study, the New York Empire State’s Manufacturers Indicator rose from -15.60 – -6.00, above expert expectations of -9. Overall, investor mood is extraordinarily positive. Investors do not care about the hardline US Fed nor are frightened of missing great possibilities in technology.
S&P 500 Brief Technical Outlook
The S&P 500 has risen over the hurdle mark of 5440 to 5450 as well as is approaching 5500 zone. The relative strength index (RSI) is overpriced, raising the chance that prices will drop.
The Nasdaq 100 is testing record highs amidst substantial interest for technology equities. The Autodesk is leading the rebound, up 6.9 percent after Starboard Values apparently purchased a $500 mn interest in the firm.
Nasdaq 100 is attempting to hold over the psychologically vital 20,000 milestone. Investors ought to be aware the fact that the RSI is now severely overvalued.
Dow Jones Index
DJIA makes momentum amidst a wide advance in the stock market in the Wall Street. Nevertheless, DJIA failed to gain much traction as investors concentrated on technology equities. The decline in healthcare businesses placed some strain on Dow Jones throughout current trade period.
Assuming DJIA remains over the 50 D- Moving Average around 38,7365 mark. This will continue to rise into the subsequent obstacle level around 39,000 to 39,100 area.
Daily Technical Indicators & Signals
S&P 500
| Name | Value | Action |
| RSI(14) | 75.846 | Overbought* Caution |
| STOCH(9,6) | 73.654 | Buy |
| STOCHRSI(14) | 100.000 | Overbought |
| MACD(12,26) | 67.140 | Buy* |
| ADX(14) | 23.128 | Buy |
| Williams %R | -5.145 | Overbought |
| Name | Value | Action |
| CCI(14) | 143.1958 | Buy |
| ATR(14) | 50.8408 | High Volatility |
| Highs/Lows(14) | 111.2928 | Buy |
| Ultimate Oscillator | 73.017 | Overbought |
| ROC | 3.151 | Buy* |
| Bull/Bear Power(13) | 150.5019 | Buy |
Nasdaq 100 Index
| Name | Value | Action |
| RSI(14) | 81.563 | Overbought* Caution |
| STOCH(9,6) | 95.026 | Overbought* |
| STOCHRSI(14) | 100.000 | Overbought |
| MACD(12,26) | 396.170 | Buy |
| ADX(14) | 42.622 | Buy |
| Williams %R | -0.766 | Overbought |
| Name | Value | Action |
| CCI(14) | 166.4356 | Buy |
| ATR(14) | 236.8467 | High Volatility |
| Highs/Lows(14) | 768.2016 | Buy |
| Ultimate Oscillator | 74.100 | Overbought* |
| ROC | 5.468 | Buy* |
| Bull/Bear Power(13) | 1127.7128 | Buy |
DJIA
| Name | Value | Action |
| RSI(14) | 48.521 | Neutral |
| STOCH(9,6) | 98.638 | Overbought* Caution |
| STOCHRSI(14) | 93.971 | Overbought |
| MACD(12,26) | 7.750 | Buy |
| ADX(14) | 31.143 | Sell |
| Williams %R | -1.173 | Overbought* |
| Name | Value | Action |
| CCI(14) | 15.6261 | Neutral |
| ATR(14) | 395.6434 | High Volatility |
| Highs/Lows(14) | 0.0000 | Neutral |
| Ultimate Oscillator | 58.713 | Buy |
| ROC | -0.191 | Sell |
| Bull/Bear Power(13) | -380.9554 | Sell |
