Traders Bid Up Technology, However…
Traders started out bidding up stocks on the NASDAQ, but the sellers have started hitting bids.
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 neutral for the E-mini S&P (EPZ6), the DJ Euro STOXX 50 (DSXZ6) and the Dow. However, the RSI reading for the NASDAQ 100 (ENQZ6) is up to 65, which is not overbought and indicates upward momentum at the start of trading. The MACD for each market is above its respective average, an initial positive sign.One problem is the Q.NYSEVolRatio and the Q.NASDAQVolRatio are just a neutral 50+ percent readings. That is not a sign of early buying.
Next, in the second row is ETX6, ICE WTI Light Sweet Crude Oil for November, and the RSI is a neutral 51.71 reading. The MACD is above the MACDA and indicates a short-term up trend.
The RSI for Gold (GCZ6) is moderately positive at 64.87 and the MACD is above the MACDA, so gold is trending higher on a 15-minute basis.
Yields in the Treasury market are climbing.
The EUR/USD pair is trending up.