Equities Rebound, Treasuries Pull Back
Equities around the world are rebounding, and the Treasury market is reversing yesterday’s flight-to-quality rally.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity derivative products slight upside momentum for the e-mini S&P 500 (EPH7), and flat intraday momentum for the e-mini NASDAQ 100 (ENQH7), the DJ Euro STOXX 50 (DSXH7), and the Dow (DJI).
The Q.NYSEVolRatio is flashing a reading of 74.38 % up-volume, which is positive, but the Q.NASDAQVolRatio is lagging with a 63.12 % up-volume reading.
The MACD and the RSI reading for the CLEG7, Crude Oil for February traded on Globex, is indicating a short-term down trend.
The RSI for Gold (GCZ6) and the MACD action is indicating a short-term downtrend.
Yields are up in the Treasury market today.
The EUR/USD pair is trading in a sideways trend based on the MACD and the RSI reading.
The chart of the S&P 500 and the NYSE volume ratio on a 15-minute basis shows a rebound underway with the up-volume reading running 75 %. However, he S&P 500 index looks like it is stalling out.
The NASDAQ 100 index and the NASDAQ volume ratio readings are lagging the rebound by the S&P 500 and the up-volume readings from the NYSE. It would be a better situation if technology were leading.