The CQG Analog Chart is an overlay chart displaying multiple markets. I have crude oil (blue bars), gasoline (light green close only line), and heating oil (white close only line). And, I have the RSI study plotted for each market using the same colors as the prices. We can see that the RSI readings for […]
The market is sitting between the support zone and resistance zone. While the RSI readings broke the uptrend line, signaling downside momentum, the market has formed another pivot low above 38. This classifies the market back in a trading range with a negative bias.
The Constant Volume Bar chart is set to 250 contracts with the […]
The gold market is marking time for the third day in a row below the resistance zone. Yesterday, the market closed down for the second time, which gives the edge, for the moment, to sellers.
As I said before, the RSI has back-to-back readings just on the other side of 62, providing a weak up trend […]
Some merger activity is leading to buying in equities this morning. The volume ratios are moderately positive, and the percentage number of ETFs is just over 60%.
The late-morning RSI readings from the CQG Custom QuoteBoard, using 15-minute bars for the equity derivative products are indicating some upside momentum for the E-mini S&P (EPH7), the NASDAQ […]
Currently, 62-percent of the 228 ETFs I track are showing a positive gain today. There are a number of different oriented ETFs in today’s top ten list, but small-cap and mid-cap are the dominant ETFs. Excel is linked to CQG for the data.
The daily bar chart of the 10-year T-note futures shows how the previous support zone is acting as resistance. The weak RSI readings indicate the trend is down and the price action should work lower.
The Constant Volume Chart (set to 10,000 contracts) with the RSI and the CQG SnapTrader show the market is trading sideways. […]
Today, I have added a CQG Analog Chart, which is a chart display that plots multiple markets. I have crude oil (blue bars), gasoline (light green), and heating oil. And, I have the RSI study plotted for each market using the same colors as the prices. Notice, in mid-December, the heating oil stared breaking down […]
The market has moved down and has tested the support zone for a second time. Buyers appear to be coming in. The RSI readings broke the uptrend line yesterday, signaling downside momentum, but Friday’s close did not take the RSI below 38. Today’s early upside action could lead to an up close and if it […]
Today, gold is still holding below the resistance zone. The price action has taken the market outside of the up trend channel, but this did not bring out sellers, so for the moment, sellers are not gaining control. Watch the close today for an indication of the new trend.
While the RSI has back-to-back readings just […]
In today’s example of the Constant Volume Bars, which I use to compress the intraday trading action, there is a distinctive trading range established. We can see the RSI reading were hitting moderate extremes at each peak and low.
Using the one-tick version of the TFlow chart we can see that sellers are controlling the market […]