Equity Markets Open Mixed
The S&P 500 is trading sideways, and there was some initial buying in technology. However, the exchange generated volume ratios I track are not yet indicating any buying pressure this morning.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity derivative products are indicating flat momentum readings for the e-mini S&P 500 (EPH7, the e-mini NASDAQ 100 (ENQH7), and the DJ Euro STOXX 50 (DSXH7). The RSI reading for the Dow (DJI) is indicating downward momentum.
The Q.NYSEVolRatio is flashing a reading of 47.8 % up-volume, which is indicating a neutral , while the Q.NASDAQVolRatio reading is 43.9 % up-volume, which is also a neutral reading.
The MACD and the RSI reading for the CLEJ7, Crude Oil for April traded on Globex, is indicating a sideways trend.
The RSI for Gold (GCJ7) and the MACD action is indicating a short-term down trend.
Yields are flat in the Treasury market today.
The EUR/USD pair is trading in a short-term up trend based on the MACD and the RSI reading.
The chart of the S&P 500 and the NYSE volume ratio on a 15-minute basis shows the market trading sideways and the volume ratio is flat after flashing early readings indicating some buying pressure. If the volume ratio rolls over, then sellers are coming in again.
The NASDAQ Composite index and the NASDAQ volume ratio readings show the market starting out with some buying, but the volume ratio fell back. If the volume ratio starts breaking down, then sellers are taking charge.
The exchange volume ratios need to start climbing to signal an advance.