Equity Markets Open on a Down Note
Equity traders hit bids at the open due to weaker than expected retail sales. Treasuries are rallying.
The late-morning RSI readings from the CQG Custom QuoteBoard using 15-minute bars for the equity derivative products are indicating slightly flat 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 34.9 % up-volume, which is indicating some selling pressure, while the Q.NASDAQVolRatio reading is 43.2 % up-volume, which is indicating some slight selling pressure.
The MACD and the RSI reading for the CLEJ7, Crude Oil for April traded on Globex, is indicating a short-term up 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 rallying off support, but the volume ratio has not moved above 50-%. Sellers are holding the market down.
The NASDAQ Composite index and the NASDAQ volume ratio readings show the market sitting in the middle of yesterday’s range, but the volume ratio is indicating sellers are pressing the market down.
The exchange volume ratios should start climbing to signal an advance.