The gold market is holding just above the support zone. I used today’s low for the upper side of the support zone, and that could change. I have marked 4 of 5 points for a broadening triangle. The pattern calls for a new high.
The current action has the RSI readings crisscrossing the neutral 50 level. […]
The equity markets started out in a weak fashion following the weaker than expected first quarter GDP numbers. Currently, the NYSE volume ratio is indicating selling pressure while the NASDAQ volume ratio is more neutral.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity index derivative products are flashing neutral […]
This morning, 15-percent of the 228 ETFs I track are showing a positive gain. Industrials exchange traded funds are at the top of today’s best performing ETFs. Excel is linked to CQG for the data.
The market action is still negative based on the daily RSI readings forming a pivot high below 62. Down trending markets rarely flash RSI readings greater than 62.
The Aggregated TradeFlow chart is set to 3-ticks range (available in CQG 7.5) with my two custom studies plotted. So far, today, the market has formed a second, […]
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.
While RBOE gasoline (yellow line) has […]
Today, the Euro FX Futures has made another new high. The price action only tagged the upper side of the support zone on the daily chart. But, there is a slight loss of upward momentum, so I would not be surprised if the market pulls back to the support zone. Ultimately, I continue to expect […]
Yesterday, the gold market traded down through the support zone. Today, the market has traded back above the support zone. This is called a spring. Traders were able to sell the market down, flush out the weak holders and now the market should move higher. I have marked 4 of 5 points for a broadening […]
Following yesterday’s rally and headline news detailing the Dow’s close above 13,000, the markets today are taking a break. So far, the NYSE and the NASDAQ volume ratios are indicating two-way markets with tech showing signs of some light buying.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity index […]
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 […]