Bond Markets Summary for Oct 16, 2020
Bond Markets Technical Analysis Market Overview Report for Oct 16, 2020 | by Techniquant Editorial Team
With four out of the five Bond Markets closing lower today, the ones that stand out on the negative side are TBOND losing -0.18% and TNOTE10Y closing -0.06% lower. On the flipside the best performer has been BUND closing 0.17% higher.
One of today's most interesting market conditions in the Bond Markets showed up in TNOTE2Y: Among the eight market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Break through SMA 100" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for 2Y T-Note. Out of 81 times, TNOTE2Y closed higher 48.15% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 66.67% with an average market move of 0.06%. Read more