Some selling flows are going through, all orders related as oppose to new news headline, Bund has seen around ~60k in the past 25 minutes of cumulative Volume, latest saw 3x 5k clips.
US Tnotes, is also sold in 6k. Noted Yesterday that a break through the 110.12+/110.10 area would have suggested some potential extension up to the 4.40% Yield level.
While 110.12+ was broken, the 110.10/110.08 will now be the initial area to watch, TYM5 printed a 110.10 low Yesterday.
OUTLOOK: Price Signal Summary - S&P E-Minis Have Traded Through The 20-Day EMA
Mar-26 11:00
In the equity space, S&P E-Minis are trading at their recent highs. The trend condition is bearish and the latest recovery appears corrective. MA studies remain in a bear-mode set-up, highlighting a dominant downtrend. However, this week’s gains have resulted in a breach of the 20-day EMA. This signals scope for a continuation higher near-term - towards 5864.25, the Jan 13 low. A reversal lower would refocus attention on 5559.75, the Mar 13 low and bear trigger. First support to watch is 5650.75, the Mar 18 low.
The medium-term trend direction in EUROSTOXX 50 futures is up and recent short-term weakness is considered corrective. Support to watch is the 50-day EMA, at 5293.33. It has recently been pierced. A clear break of it would highlight a stronger short-term bear threat and suggest scope for a retracement towards 5160.00, the Feb 4 low. The bull trigger is 5516.00, the Mar 3 high. Clearance of this level would resume the uptrend.
MNI: US MBA: MARKET COMPOSITE -2.0% SA THRU MAR 21 WK
Mar-26 11:00
MNI: US MBA: MARKET COMPOSITE -2.0% SA THRU MAR 21 WK