Slightly Weak Start at the Opening
Early morning trading is a little weak and within yesterday’s range. Technology is weighing on the market.
In the quote window, each of the symbols details the last price and change for the day. The two studies, the relative strength index (RSI) and the moving average convergence/divergence (MACD) and its 9-period average (MACDA or Signal Line) are based 15-minute bars.
The RSI readings for the top row, which are equity derivative products, are flat early on for the E-mini S&P (EPZ6) and the DOW (DJI). More importantly is the RSI reading for the NASDAQ 100 (ENQZ6) is down at 35, and that indicates selling. The RSI for the DJ Euro STOXX 50 (DSXZ6) is also rolling over.
The Q.NYSEVolRatio is neutral, but the Q.NASDAQVolRatio is at 35.74%, which indicates that down-volume is dominating trading at the start in technology, which is a negative.
Next, in the second row is ETZ6, ICE WTI Light Sweet Crude Oil for December, which is rallying the start and is in a short-term up trend.
The RSI for Gold (GCZ6) is indicating some selling with a reading of 42.89, and the MACD is indicating a down trend.
Yields in the Treasury market are backing off today, but are still in short-term up trends.
The EUR/USD pair is trading sideways.