Tech Rebounds while the S&P 500 Lags
The equity markets at this point in the day are seeing buying in technology while the S&P 500 is holding just below resistance.
The mid-morning RSI readings from the CQG Custom QuoteBoard, using 15-minute bars for the equity derivative products indicate positive momentum readings for the E-mini S&P (EPZ6) and the DJ Euro STOXX 50 (DSXZ6) are moderately positive, and the Dow (DJI) is slightly weak. The RSI for the NASDAQ 100 (ENQZ6) is positive.
The Q.NYSEVolRatio is bullish, while the Q.NASDAQVolRatio is indicating solid buying
The ETF7, ICE WTI Light Sweet Crude Oil for January, is displaying a short-term negative trend based on the MACD and a negative RSI reading.
The RSI for Gold (GCZ6) and the MACD action are moderately negative readings.
Yields are down in the Treasury market today.
The EUR/USD pair is displaying a short-term negative trend based on the MACD, and a negative RSI reading.
The chart of the S&P 500 and the NYSE volume ratio on a 15-minute basis indicates an oversold condition at the open with an up-volume reading below 30-percent. The S&P 500 is holding below resistance.
The price action of the NASDAQ 100 and the NASDAQ volume ratio readings on a 15-minute basis indicate the NADAQ 100 is trading into a resistance zone. The volume ratio is lagging now.