So far, this morning, the constant volume chart, set to 10,000 contracts is indicating steady selling based on the RSI readings consistently closing below 38, and has now rolled over with the RSI below 62. The price has hit the first resistance zone.
The TradeFlow chart of the E-mini S&P 500 with my two studies, TradeFlow […]
Equities are weak this morning. Sellers are pointing towards higher energy prices, but the Treasuries are up on the day.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity derivative products are negative for the e-mini S&P 500 (EPH7), the e-mini NASDAQ 100 (ENQH7), and the Dow (DJI). The RSI […]
This morning, just 27-percent of the 228 ETFs I track are showing a positive gain. The top four are silver, commodity and gold ETFs. Excel is linked to CQG for the data.
The daily charts shows buyers have come in at Thursday’s low and are taking the market higher. As I mentioned yesterday, I still see the uptrend still intact. But I want to see is the RSI, set to 14-bars, close over 62 to confirm bullish momentum.
The Constant Volume Chart (increased to 25,000 contracts) with the […]
The CQG Analog Chart, which is a chart display that plots multiple markets, has crude oil (blue bars), gasoline (light green close only line), and heating oil (white close only line) plotted. In addition, I have the RSI study plotted for each market using the same colors as the prices.
Same observations as yesterday: The products […]
The price action dropped below the demand line of the up trend channel, but buyers came in yesterday, and are following through today. I plotted a new uptrend channel. We may get the daily RSI reading to close above 62 and confirm the signal bullish momentum. High RSI readings indicate positive momentum.
The Constant Volume Bar […]
The Gold market on Thursday consolidated Wednesday’s rally, and today the market has made another new high. I have added another uptrend channel to track the demand and supply of the current short-term trend. The RSI reading at the close yesterday, was once again above 62 and that indicates upward momentum.
The Constant Volume Chart (CVB) […]
The NASDAQ Composite has made another new high for the year this morning; however, the volume ratios are not indicating widespread buying.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity derivative products are somewhat negative for the (EPH7) and the Dow (DJI). The RSI for the NASDAQ 100 (ENQH7) […]
This morning, 60-percent of the 228 ETFs I track are showing a positive gain. The top four are Semiconductor ETFs. Excel is linked to CQG for the data.
The CQG Analog Chart, which is a chart display that plots multiple markets, has crude oil (blue bars), gasoline (light green close only line), and heating oil (white close only line) plotted. In addition, I have the RSI study plotted for each market using the same colors as the prices.
The products are continuing to show […]