Buyers Step in for the Ten-Year T-Notes
Today’s weaker than expected New Home Sales data has brought out buyers for fixed income product. Yesterday, the ten-year T-note closed down and the daily RSI closed below 50. This is still trading range behavior with a bullish bias.
The Constant Volume Chart (set to 25,000 contracts) with the CQG SnapTrader and the RSI set to 14-bars. The current extreme readings by the RSI are above 62 and that is bullish action.
The T-note TradeFlow Chart, has the two studies set to five-bar running sums, and the ChartTrader attached. At time this image was captured, the peaks of the the buy volume line (green) is dominating the sell volume line (red) of the TFVCrss study are switching back and forth. That indicates buyers are dominating.
The TradeFlow short-term view can quickly change.