Equity Markets Consolidate
Equity traders are showing little conviction this morning. Key equity indices are trading within Friday’s range. Treasuries are rebounding.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity derivative products are indicating slightly negative momentum 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 41 % up-volume, which is indicating some selling pressure, while the Q.NASDAQVolRatio reading is 56.6 % up-volume, which is indicating some buying pressure.
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 sideways trend.
Yields are down 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 trading down and the volume ratio was indicating selling pressure, but is now starting to climb.
The NASDAQ Composite index and the NASDAQ volume ratio readings show the market edging higher. Then, the market pulled back and so has the volume ratio. Still, the 58-percent volume reading indicates some buying.