10 year Bond Future - Bullish Outlook
The chart below has two trading systems running with Bullish and Bearish biased systems. The trend changed negative several weeks ago but the flat selling relative to the buying is bullish going forward. Traders can think of this as supply and demand periods. The uptrend is "demand dominant" while the downward (sideways in this case) as "supply dominant". When measured together, we can clearly see buying strength is much stronger than selling strength when tends to lead to continued upside. Obviously, this ties in with a FED backstop so I am looking for the ZN to make new highs over the next week weeks.
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