Equities Rallying with the Asian Markets
Asian markets continued to rally overnight and that has brought in a bid for U.S. equities. Treasuries have backed off, but are the linkage to equities has weakened.
Friday is employment day, and will set the stage for equities and fixed income markets.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity derivative products are indicating neutral to bullish readings for the e-mini S&P 500 (EPH7, the e-mini NASDAQ 100 (ENQH7), the DJ Euro STOXX 50 (DSXH7), and the Dow (DJI).
The Q.NYSEVolRatio is flashing a reading of 82 % up-volume, which is indicating solid buying, while the Q.NASDAQVolRatio reading is 84 % up-volume, which is also indicating good buying.
The MACD and the RSI reading for the CLEJ7, Crude Oil for April traded on Globex, is indicating a short-term down trend.
The RSI for Gold (GCJ7) and the MACD action is indicating a short-term up trend.
Yields are up in the Treasury market today.
The EUR/USD pair is trading in a short-term up 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 the market is trending higher with very positive volume ratio readings.
The NASDAQ Composite index and the NASDAQ volume ratio readings are headed higher. Volume ratio readings greater than 75-percent indicate solid buying.