



The Australian sharemarket closed in the red and the dollar hit a fresh 18-month low as the Turkish lira led a rout in emerging market currencies and concerns mounted over European Bank exposure to Turkey.

The S&P-ASX 200 index dropped 26.2 point, or 0.42 per cent, to 6252.2 but volume was below average and domestic losses less than half those in Tokyo and Hong Kong as investors downplayed global contagion risks.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 6,352.70.

The projected lower bound is: 6,162.17.

The projected closing price is: 6,257.44.



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 52.1684. 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 50.99. 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 35 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 -46. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.



Rex Takasugi – TD Profile

S&P/ASX 200 closed down -26.200 at 6,252.200. Volume was 15% below average (neutral) and Bollinger Bands were 58% narrower than normal.

Open High Low Close Volume___
6,278.1006,279.7006,239.6006,252.200 467,007,168

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 6,265.53 6,200.01 6,032.96
Volatility: 7 10 11
Volume: 500,156,032 543,834,432 551,464,000




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