The parallel down trend channel has been broken. The next resistance level is $647.30, which is the high of January 3rd. I doubt this level will be broken on the initial test. The reason is the market is losing upside momentum. I labeled three highs, which are the end of short-term up swings, and each […]
One of the cool features CQG offers traders is the range of quote page formats. Here, I will take a quick look at the various choices and offer a couple of tips on using quote displays in CQG.
The first tip is to always type in the symbol, and if it is a futures symbol, type […]
Energy is rebounding along with technology today. The volume ratios have turned moderately positive following the weak opening.
The mid-morning RSI readings from the CQG Custom QuoteBoard, using 15-minute bars for the equity derivative products are mixed. The E-mini S&P (EPH7) is moderately positive. The RSI reading for the NASDAQ 100 (ENQH7) is neutral. On the […]
Currently, 85-percent of the 228 ETFs I track are showing a positive gain today. Energy is taking up the lion’s share of the top ten performing ETFs for the day. Excel is linked to CQG for the data.
The daily bar chart of the 10-year T-note futures contract is still holding above the support zone. However, the RSI readings have yet to form a pivot low above 38. Consequently, I still interpret the momentum to indicate a weak market.
The intraday view of the T-note market using the TradeFlow Chart has the two studies […]
While the RSI readings from the daily bar chart of Crude Oil still indicate a down trend, there is some buying today just above $50.00. This is a psychological level because if the market does close below $50.00, it will create some headlines and lots of speculation about how much lower can crude go down.
Here, […]
The market edged into a near-term resistance zone and sellers came in. While the market is still holding at the support zone, the RSI readings still indicate to me that the market is likely to test the lower side of the support zone.
The morning view of the TradeFlow Chart for the EURUSD has the both […]
Yesterday, I plotted a parallel down trend channel where the supply line (upper channel line) is plotted parallel to the demand line (lower channel line) and the market did encounter sellers. And now, the RSI formed a pivot low below 62. I consider this to be trading range behavior by both the price and the […]
Using the one-tick version of the TradeFlow chart we can see that buy volume line (green) of the TradeFlow Volume Cross Study (TFVCrss) is peaking above the sell volume line (red). This indicates that buyers are currently controlling the market.
However, this view is a very short-term view, and the situation reverses if the sell volume […]
Technology is finding sellers in reaction to the sell off by Apple and the S&P 500 is following.
The mid-morning RSI readings from the CQG Custom QuoteBoard, using 15-minute bars for the equity derivative products indicate negative momentum readings for the E-mini S&P (EPH7), the NASDAQ 100 (ENQH7), the DJ Euro STOXX 50 (DSXH7) and the […]