Mid Day Charts

Today is playing out very similar to yesterday so far. Overnight and early in the trading session, prices rallied strongly, only to later turn down. We could still get an attempt at a measured leg up, but it will probably be after the gap is filled if so. If prices continue working lower in order…...

Prices rallied during the overnight session following the large selloff we had on Friday. Friday was an ugly day, but it was overdue and needed to be perfectly honest. It is difficult to know if the down correction is over and if prices will continue higher from here, but it looks like prices have found…...

Prices are trending lower so far this morning. Note that prices traded down to the lower upsloping trendline and turned up off of that point, so maybe prices have found a bottom for now? That does not mean prices will rally today, although they could before the day is over. It may just mean that…...

Prices are rallying at the moment, but they just completed a measured move up of the original range width from the overnight session. We will have to see if that is the target to the upside for today or if the rally will continue. I do see a mild uptrend, and that channel appears to…...

The trend and bias are currently down, so stay with that as long as the downtrend channel stays in play. Note that there is a large overhead gap on the chart due to the lower 8:30 AM CST regular session opening. If prices decide they want to fill that gap at some point today, that…...

Prices are rallying again this morning, and it looks like they are attempting a second leg up at the moment. A measured move up would give us a target around the 7620.00 area. I would use that as a first possible target as long as prices keep trending higher. That does not mean prices cannot…...

At the moment, prices are down and somewhat mixed. How the current support plays out will likely tell us more about how the day will go overall. We could see a measured move down if the support gives way, so keep that in mind. If the support holds, prices will start probing to the upside…...

Prices rallied strongly at the regular session opening this morning, only to quickly sell off after reaching new highs again. Most of that move up was just erased moments ago, so we will see if prices reset and work higher again, or if they will do something different. The volume appears thinner again so far…...

Prices left an overhead gap on the chart at the regular session opening this morning, but that gap was filled quickly when the new home sales report was released at 9 AM CST. Normally that report is rather docile, but this morning it sent prices quickly higher. It will be interesting to see if prices…...

Prices are mildly down and mixed, although this could end up as another sideways range type day in the end. At the moment, there is still a mild downward bias with some mixed trading as well, but if this is to be a range day, prices could reverse and trend higher at some point. Stay…...