CBOE runs into sellers again around 109.74

CBOE Holdings (CBOE) Technical Analysis Report for Apr 16, 2018

Highlights

CBOE closes below its opening price unable to hold early session gains
CBOE runs into sellers again around 109.74
CBOE closes within previous day's range after lackluster session
CBOE ends the day indecisive

TQ Sentiment

Report Sentiment: 28% Bearish
Technical Forecast:

Overview

CBOE ended Monday at 108.81 gaining $0.46 (0.42%) on low volume. Trading $0.66 higher after the open, CBOE Holdings was unable to hold its gains as the bears took control ending the day below its opening price. 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

Monday's trading range was $1.16 (1.06%), that's far below last trading month's daily average range of $2.72. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

After having been unable to move above 110.04 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 109.74.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Buying might accelerate should prices move above the close-by swing high at 110.65 where further buy stops could get triggered. Selling might speed up should prices move below the nearby swing low at 108.05 where further sell stops could get activated.

Conclusion

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

Market Conditions for CBOE Holdings

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