Merger Activity Continues to Boost Traders Confidence
Equities started the day with gains. The tech heavy NASDAQ is outperforming the S&P 500, which is a positive sign.
The mid-morning RSI readings and the MACD study values from the CQG Custom QuoteBoard, using 15-minute bars for the equity derivative products are mixed. The RSI readings for the E-mini S&P (EPH7) and the DJ Euro STOXX 50 (DSXH7) are neutral while the RSI and MACD for the NASDAQ 100 (ENQH7) and the DJI are indicating short-term up trends.
The Q.NYSEVolRatio and the Q.NASDAQVolRatio readings are both indicating buying, with the NASDAQ leading.
The CLEF7, Crude Oil for January traded on the Globex Exchange, RSI reading is neutral, but the MACD is indicating a short-term up trend.
The RSI for Gold (GCZ6) is slightly negative and the MACD is indicating a short-term up trend.
Yields are down in the Treasury market today.
The EUR/USD pair is flat.
The chart of the S&P 500 and the NYSE volume ratio on a 15-minute basis indicates selling. The volume ratio is trending up with the price action. The current volume ratio reading is above the last two days highs, and that is a positive sign.
The NASDAQ 100 and the NASDAQ volume ratio readings on a 15-minute basis are also showing good buying volume. Readings above 75-percent indicate up-volume is dominating.