GDP Powers Equities Higher
The equity markets are strong today. Volume ratios running over 80% up-volume indicate widespread demand.
The mid-morning RSI readings from the CQG Custom QuoteBoard, using 15-minute bars for the equity derivative products indicate initial strong buying in the E-mini S&P (EPZ6). However, the NASDAQ 100 (ENQZ6), the DJ Euro STOXX 50 (DSXZ6), and the Dow (DJI) are not as bullish.
The Q.NYSEVolRatio is over 80 percent up-volume, a sign of very good buying. The Q.NASDAQVolRatio is not as strong, but still a positive sign..
The ETF7, ICE WTI Light Sweet Crude Oil for January, is trending higher.
The RSI for Gold (GCZ6) and the MACD action is neutral.
Yields are mixed in the Treasury market today.
The EUR/USD pair is correcting the recent rally.
The chart of the S&P 500 and the NYSE volume ratio on a 15-minute basis is indicating very good buying with the up-volume coming in at an 84% reading.
The NASDAQ 100 and the NASDAQ volume ratio readings on a 15-minute basis is below 80% up-volume, but is still indicating good initial buying.