Technology Leading in the Morning
The day is starting out with good buying in tech stocks. The NASDAQ volume ratio is running at about 70% up-volume, which is a good sign.
The mid-morning RSI readings from the CQG Custom QuoteBoard, using 15-minute bars for the equity derivative products are strong for three of the four indices. The E-mini S&P (EPZ6), the NASDAQ 100 (ENQZ6), and the Dow (DJI) are indicating good momentum in the morning trading, while the the DJ Euro STOXX 50 (DSXZ6) is neutral.
Both the Q.NYSEVolRatio and the Q.NASDAQVolRatio are positive, and the near 70% up-volume reading for the NASDAQ is bullish.
The ETZ6, ICE WTI Light Sweet Crude Oil for December, is flat.
The RSI for Gold (GCZ6) is neutral and the MACD indicates a down-trend.
Yields are up in the Treasury market today.
The chart of the S&P 500 and the NYSE volume ratio on a 15-minute basis is showing decent buying. At the close yesterday, the volume ratio was 75% up-volume. Today, buyers are dominating, but not as strong as yesterday, which implies a consolidation today.
The NASDAQ 100 and the NASDAQ volume ratio on a 15-minute basis are showing positive signs in the early trade running near the 70% up-volume level.