Light Selling Appears Following Chicago PMI Report
The equity markets are off today in reaction to the weaker than expected Chicago Purchasing Manufactures Index.
The mid-morning RSI readings from the CQG Custom QuoteBoard, using 15-minute bars for the equity derivative products indicate initial some selling in the E-mini S&P (EPZ6) and the NASDAQ 100 (ENQZ6). The DJ Euro STOXX 50 (DSXZ6) is weak and the Dow (DJI) is neutral.
Both the Q.NYSEVolRatio and the Q.NASDAQVolRatio are neutral this morning indicating a two-way trading market.
The ETF7, ICE WTI Light Sweet Crude Oil for January, is still showing signs of an up trend.
The RSI for Gold (GCZ6) and the MACD action are flashing bullish readings.
Yields are falling in the Treasury market today.
The EUR/USD pair is trading higher.
The chart of the S&P 500 and the NYSE volume ratio on a 15-minute basis is indicating a neutral market with the 53% up-volume reading.
The NASDAQ 100 and the NASDAQ volume ratio readings on a 15-minute basis is also flashing a neutral flow of buying versus selling this morning.