Thursday, August 7, 2014

Candle Quick: TYU4 (10 yr Tsy Future)



Yesterday’s price action nearly formed a bearish shooting star, but failed (by strict definition) to settle low enough.  Instead, TYU created a bullish engulfing over the prior two sessions.  The settlement yesterday was also the highest since late-May and as indicated in a note yesterday; ‘A settle through this level (125-13+) could set stage for more aggressive advance’.  We may be seeing that now as TYU advances 12 tics from yesterdays settle.  Finally, longer time-frame consolidation since early-May suggests there are little overbought conditions prevailing.    






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