Ten-Year T-Notes Trading Sideways
The daily chart shows that following the buying yesterday, the market fell back and closed down for the day. This is typical bearish market action. Today, buyers are still bidding prices higher away from the support zone formed back on February 22 and at the demand side of the new down trend channel. Still, because the daily RSI readings did close below 38, that indicates a downtrend.
I have added an Aggregated TradeFlow chart set to 3-ticks range (available in CQG 7.5) with my two custom studies plotted. Currently, the market is trading sideways after edging above the resistance zone. The current readings from the TFUmTFD study, which is the difference between the green buy volume line and red sell volume line of the TFVCrss study, is running in negative territory following the price peak, which is a sign that sellers are coming in..
The T-note TradeFlow Chart, has the two studies set to five-bar running sums, and the ChartTrader attached. I have the CQG Order Ticker below the chart.
At the time this image was captured, we can see market moving sideways. There was some buying, as the buy volume line (green) formed a peak above the sell volume line (red) of the TFVCrss study. However, the buyers are not attracting a following.
The TradeFlow short-term view can quickly change.