the Old Brad Sullivan favorite graph the NYSE Tick data showing the Biggest Buy program since 10-9-2019 pushing Spoos and risk well off session lows and Treasury’s off session highs. Hard to pinpoint one reason but a few Comments from ECB chief lagarde saying virus not at stage to require an ECB response” (BBG) Further Comments from ECB’s Guindos saying”Do not See specially relevant virus impact on Europe” possibly enough to provide Confidence in the European Economy and Less worries about Virus impact. Dax at one point down almost 4.5% rallied some 2.4% then closed down about 3%. Lean hogs and Cattle aboth touched limit down limit down but they too were pulled off lows as Dax and Spoos rallied. Watching yesterdays pity low in Spoos 3107,If prices can trade into yesterdays range a good sign for the bulls. SPX $80 of lows,NDX $235 off Lows Indices correct 10% a buy Signal???
Treasury’s looking for any reason to sell ,they didn’t want to go up but i bet they can move lower with some aggression.