The daily chart shows the market sold off in reaction to the better than expected job growth reported on Friday. The sell off has stopped in the support zone formed back on February 22 and at the demand side of the new down trend channel.
The daily RSI readings are now indicating a downtrend by closing […]
The daily chart shows the market still trading within the support zone. The market is marking time waiting for March employment data to be released tomorrow (Friday).
The daily RSI readings are still indicating a trading range with a bullish bias. The trend does not turn down until the RSI closes below 38.
I continue to watch […]
Today, the daily chart shows buyers are coming in after the market tested the lower side of the support zone.
The daily RSI readings are still indicating a trading range with a bullish bias. The trend does not turn down until the RSI closes below 38.
I continue to watch for a pivot low to form on […]
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 crude oil, […]
Today, the daily chart shows the market is probing a possible support zone.
I continue to plot a trend channel detailing the slight negative bias for the T-notes. This bias contradicts the momentum status, which is a trading range with a bullish bias based on the RSI readings. The daily RSI readings are still indicating a […]
I have plotted a trend channel detailing the slight negative bias for the T-notes. This bias contradicts the momentum status, which is a trading range with a bullish bias based on the RSI readings. The daily RSI readings are still indicating a trading range with a bullish bias. The trend does not turn down until […]
Sellers have dropped the price through the support zone on the daily chart. The daily RSI readings are still indicating a trading range with a bullish bias. The trend does not turn down until the RSI closes below 38. Watch for a pivot low to form on the RSI above 38 to signal a short-term […]
Sellers continue to probe the support zone on the daily chart. The daily RSI readings are still indicating a trading range with a bullish bias. Most of the drag on the market is coming from the 30-year, as well as the ten-year Euro Bund is trading lower.
The Constant Volume Chart is set to 25,000 contracts […]
Today, the market is waiting and watching for comments by Federal Reserve Board Chairman Bernanke who is testifying before the Joint Economic Committee. The current price action is holding above the support zone on the daily chart. The daily RSI readings are still indicating a trading range with a bullish bias.
The Constant Volume Chart is […]
The current price action is retesting the support zone on the daily chart. The daily RSI readings are still indicating a trading range with a bullish bias.
The Constant Volume Chart is set to 25,000 contracts with the CQG SnapTrader and the RSI set to 14-bars. The current extreme readings by the RSI are below 38, […]