S&P 500 Makes New Highs for the Year
The equity markets are moving higher today due to M&A activity, good earnings reports, and positive economic news. The NYSE volume ratio and the NASDAQ volume ratio are indicating broad based buying.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity index derivative products are indicating strong upward momentum. The RSI for the e-mini S&P 500 (EPM7), the NASDAQ 100 (ENQM7), the DJ Euro STOXX 50 (DSXM7), and the Dow (DJI) are indicating good buying.
The Q.NYSEVolRatio is flashing a reading of 82.7% up-volume, which indicates heavy buying. The Q.NASDAQVolRatio reading is 75.7 % up-volume, which also indicates heavy buying.
The MACD and the RSI reading for the CLEK7, Crude Oil for May traded on Globex, are indicating a short-term sideways trend.
The RSI for Gold (GCM7) and the MACD action are indicating a sideways trend.
Yields are down in the Treasury market today.
The EUR/USD pair is trading sideway based on the MACD and the RSI readings.
The chart of the S&P 500 and the NYSE volume ratio on a 15-minute basis shows the market trending higher. The volume ratio readings are flashing very strong values with more than 80-percent up-volume.
The chart of the NASDAQ 100 index and the NASDAQ volume ratio on a 15-minute basis shows this index is trending higher. The volume ratio is a strong 75-percent up-volume reading.
We want to see the volume ratios climbing while above 50-percent up-volume for a bullish sign.