Equities and Treasuries Edge Higher
The equity markets are recovering from yesterday’s afternoon decline. Treasuries are bouncing following the decline from the better than expected payroll data for March. Both, the NYSE volume ratio and the NASDAQ volume ratio are showing signs of moderate buying pressure.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity index derivative products are indicating upside momentum readings for the e-mini S&P 500 (EPM7), the e-mini NASDAQ 100 (ENQM7), the DJ Euro STOXX 50 (DSXM7), and the Dow (DJI).
The Q.NYSEVolRatio is flashing a reading of 67.9% up-volume, which indicates traders are buying stocks. The Q.NASDAQVolRatio reading is 67.1 % up-volume, which also traders a re stepping into technology.
The MACD and the RSI reading for the CLEK7, Crude Oil for May traded on Globex, is indicating a sideways trend.
The RSI for Gold (GCJ7) and the MACD action is indicating a short-term uptrend.
Yields are down in the Treasury market today.
The EUR/USD pair is trading higher 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 continuing to make higher highs and higher lows. The volume ratio readings are flashing reading well above the 50 level, which is a sign of buying.
The chart of the NASDAQ 100 index and the NASDAQ volume ratio readings show the market trading within yesterday’s range. The volume ratio is running in the upper 60-percent levels, and that indicates some buying going on this morning.
We want to see the volume ratios climbing while above 50-percent up-volume for a bullish sign.