CBOE closes higher for the 2nd day in a row

CBOE Holdings (CBOE) Technical Analysis Report for Sep 14, 2018

Highlights

CBOE closes higher for the 2nd day in a row
CBOE rises to highest close since September 7th
CBOE closes within previous day's range after lackluster session
CBOE ends the day indecisive

TQ Sentiment

Report Sentiment: 14% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, CBOE ended the week -0.12% lower at 104.20 after edging higher $0.13 (0.12%) today on low volume. Today's closing price of 104.20 marks the highest close since September 7th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CBOE

Volatility

Friday's trading range was $1.50 (1.44%), that's below last trading month's daily average range of $1.98. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 103.62.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying might speed up should prices move above the nearby swing high at 105.22 where further buy stops could get triggered. Selling might accelerate should prices move below the close-by swing low at 102.22 where further sell stops could get activated. Trading close to July's high at 106.17 we might see further upside momentum if potential buy stops at the level get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for CBOE Holdings

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