Friday’s down close led to RSI forming a pivot high below 62. That signals a trading range, but with a bullish bias. Therefore, watch for the market to tag the near-term support and resistance zones.
The Constant Volume Chart (CVB) is set to 1,000 contracts for a longer-term intraday view, and the CQG SnapTrader is […]
This morning traders initially turned bullish in reaction to the news that February existing home sales rose a higher than expected 3.9-percent. However, when the S&P 500 edged above yesterday’s high, sellers came in and took some profits.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity derivative products are […]
This morning, 66-percent of the 228 ETFs I track are showing a positive gain. Homebuilders, Malaysia, and Energy oriented ETFs are dominating today’s list of best performing ETFs. Excel is linked to CQG for the data.
Yesterday, the ten-year T-note Closed near the low for the day. That market action caused the daily RSI to form a peak reading below 62, signaling a trading range with a bullish bias. I expect another test of the support zone on the daily chart.
The Constant Volume Chart (set to 25,000 contracts) with the CQG […]
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 RSI readings for the gasoline […]
Yesterday, the Euro FX futures (EUR/USD pair) reversed at the combination of the resistance zone from early December and the supply side line of the up channel. Today, the market dipped into a support zone on the daily chart and buyers are appearing.
The trend is still up because the recent extreme daily RSI readings have […]
This morning, Gold is pulling back. If the market closes down today, then the RSI will form a pivot high below 62. That will signal a trading range, but with a bullish bias. It will be interesting to see how the session finishes considering ongoing global tensions between Iran and the West.
The Constant Volume […]
Following yesterdays rally in reaction to the FOMC statement, the equity markets are consolidating. Traders are focusing on comments by central bankers today. The NYSE and the NASDAQ volume ratios are indicating traders are taking profits.
Custom QuoteBoard using 15-minute bars for the equity derivative products are mixed. The RSI readings for the e-mini S&P 500 […]
This morning, 22-percent of the 228 ETFs I track are showing a positive gain. Energy is dominating today’s list of best performing ETFs. Excel is linked to CQG for the data.
Yesterday, the ten-year T-note broke and recovered. The market uncovered buyers in the support zone on the daily chart. Today, the market action could cause the daily RSI to form a peak reading below 62, signaling a trading range with a bullish bias.
The Constant Volume Chart (set to 25,000 contracts) with the CQG SnapTrader and […]