Equities are Mixed this Friday
The equity markets are mixed today with the S&P 500 in positive territory, while the NASDAQ is in negative territory. Crude is up and Treasuries are down. The NYSE volume ratio and the NASDAQ volume ratio are indicating two-way markets.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity index derivative products are indicating flat momentum readings. The NASDAQ 100 (ENQM7) contract is netral to weak, while the readings for the e-mini S&P 500 (EPM7), the DJ Euro STOXX 50 (DSXM7), and the Dow (DJI) are neutral to positive.
The Q.NYSEVolRatio is flashing a reading of 54.6% up-volume, which indicates a two-way market. The Q.NASDAQVolRatio reading is 48.03 % up-volume, which also indicates a two-way market
The MACD and the RSI reading for the CLEK7, Crude Oil for May traded on Globex, are indicating a short-term downtrend.
The RSI for Gold (GCJ7) and the MACD action are indicating a short-term uptrend.
Yields are up in the Treasury market today.
The EUR/USD pair is trading sideway 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 up towards yesterday’s high. The volume ratio readings are flashing readings just above the 50 percent level, which is a sign of a two-way market.
The chart of the NASDAQ 100 index and the NASDAQ volume ratio on a 15-minute basis shows this index is lagging the action by the S&P 500. The volume ratio is a flat 50 percent reading. Neither buyers nor sellers are dominating.
We want to see the volume ratios climbing while above 50-percent up-volume for a bullish sign.