Since my last postings, the market traded up and above the resistance zone. However, the market has now reversed and the daily RSI readings have formed a pivot high below 62, which is a sign of a down trending market.
The Aggregated TradeFlow chart is set to 3-ticks range (available in CQG 7.5) with my two […]
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.
Since my last writing, the price […]
Today, the Euro FX Futures is pulling back. So far, the price action has yet to test the support zone on the daily chart. I lean towards that the market will get down there. However, I continue to expect higher prices because the recent extreme daily RSI readings are above 62. A trading range will […]
Since my last write up, gold has broken the demand line of the uptrend channel and the nearby support zone. Now, the market is testing the next support zone on the daily chart. The current action has taken the RSI reading to below 50. Markets in uptrends will often move into corrective phases that produce […]
Hello readers,
I am out for the next three days. My next posting will be on Thursday, April 26th.
Thom
Equities opened sharply higher in reaction to better than expected earnings reports. However, it looks like traders are taking profits into the early morning strength based on the declining NYSE and NASDAQ volume ratios, albeit from very high levels.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity index derivative […]
This morning, 92-percent of the 228 ETFs I track are showing a positive gain. Precious metals, European and commodity oriented exchange traded funds are leading today’s best performing ETFs. Excel is linked to CQG for the data.
Sellers are still pressing the market lower after testing the resistance zone yesterday. The trend is down because the daily RSI readings have closed below 38.
The Aggregated TradeFlow chart is set to 5-ticks range (available in CQG 7.5) with my two custom studies plotted. Currently, the market is headed lower. The current readings of 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.
Yesterday, I warned that if gasoline […]
Today, the Euro FX Futures made another new high, but sellers have come in. The market is correcting the recent rally by moving sideways over the last three days. The tightness of the range indicates a strong market. I continue to expect higher prices because the recent extreme daily RSI readings are above 62. A […]