Friday's sell-off did a lot of technical damage to the rally. Notice how prices moved through all the EMAs (a) on higher volume (b).
The QQQQs are trading right around the 200 day EMA (a).
The IWMs are now back below all the EMAs on heavy volume (a). Also note how the 10 and 20 day EMA are moving lower.
The 10-day, 5 minute chart shows the action in a bit more detail. Prices ran into a lot of resistance at the 110 area (a) mid-week. On Friday, there was a large sell-off that lasted all day (b). Also note the increased volume right at the close of Friday's trading (c), indicating traders wanted to get out of the market over the weekend.
Industrial metals remain in a trading range. Notice how the 10 and 20 day EMAs are vacillating.
The agricultural prices rally continues. Over the last few weeks we've seen some incredibly strong bars (a) along with gaps higher (b). Also note the EMA orientation -- the shorter are above the longer and all three shorter EMAs (10, 20 and 50) are moving higher (a). Finally, prices are now above the 200 day EMA.
The long-end of the Treasury curve is now above the long-term trend line again and
The IEFs bounced off their long-term trend line (a).
