Hartle & Flow

Yesterday, due to flight-to-quality buying driven by falling global equity markets, the ten-year rallied through resistance. This type of buying can create a very overbought situation, so, pulling back today is very normal. I have plotted a new uptrend channel. The previous resistance zone should now act as support.

The Constant Volume Chart (increased to 25,000 contracts) with the CQG SnapTrader and the RSI set to 14-bars shows the is pulling back and the RSI reaings are below 38, so the short-term trend is down..

The T-note TFlow Chart, has the two studies set to five-bar running sums, and the ChartTrader attached. At time this image was captured, the buy volume line (green) of the TFVCrss study is climbing over the sell volume line (red), but then the situation reverses. Neither buyers nor sellers are getting an upper hand at the moment.

The TFlow short-term view can quickly change.

This entry was posted Wednesday, February 28th, 2007 at 10:21 am and is filed under TFlow, Ten Year Treasury Futures. You can leave a response, or trackback from your own site.