First Day of Trading is Led by Tech
The equity markets are starting out with buyers taking charge. Volume readings are moderately bullish at the NYSE and better signs appear over on the NASDAQ.
The Equity Overview shows most groups and especially Technology (top right hand corner) are trading near their highs after the open based on the CQG Thermometer.
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), the DJ Euro STOXX 50 (DSXZ6) and the Dow (DJI). 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 positive readings.
Yields are up in the Treasury market today.
The EUR/USD pair is weak.
The chart of the S&P 500 and the NYSE volume ratio on a 15-minute basis are indicating decent buying, but the reading is volume ratio is diverging with the old high.
The NASDAQ 100 and the NASDAQ volume ratio readings on a 15-minute basis are more bullish. The volume ratio has traded above the recent highs.