The Ten-Year T-Notes Consolidate
The price action is still consolidating the flight-to-quality rally following the equity markets sell off. This is normal. The market barely tagged the overhead resistance zone, and is pulling back and is holding above a support zone. The RSI readings are over 62, and that is a bullish sign.
The Constant Volume Chart (set to 25,000 contracts) with the CQG SnapTrader and the RSI set to 14-bars shows the market rolling over and about to test the support zone. We can see the buying climax, and the second retest up to 109-00. The RSI has been closing below 38, and that sets the trend to down on this intraday view.
The T-note TradeFlow Chart, has the two studies set to five-bar running sums, and the ChartTrader attached. At time this image was taken, the sell volume line (red) is dominating the buy volume line (green) of the TFVCrss study, indicating sellers are hitting bids.
The TradeFlow short-term view can quickly change.