E-mini S&P 500 TradeFlow and Constant Volume Charts
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 Volume Cross Study (TFVCrss) and the TFUmTFD study, are set two 5-bar look back periods. We can see that traders have bid the market higher. The buy volume line (green) has climbed well above the sell volume line of the TFVCrss study. We will have to see if the buyers can attract a following.
Keep in mind, the TradeFlow chart view is a very short-term view, and the situation can quickly change.
To read more about these two custom studies, please check out my article TradeFlow Custom Studies.