Reversing the earlier moves.
The flow of funds are reversing a bit.
In the US stock market, the S&P and Dow have moved to the black. The Nasdaq is still in the red, but has erased much of their losses.
The snapshot now shows:
- S&P index, up 3.29 points or 0.11% at 2872.45. The low reached 2853.05
- the NASDAQ index is down -11.59 points or -0.15% at 7815.35. The low reached 7766.66
- the Dow industrial average is up 56.4 points or 0.22% at 25834. The low reached 25637.43
in the US debt market there is a modest rebound as well off low levels.
The 30 year yield reached a low of 1.9039%. It is currently at 1.9355%. That is still down -1.4 basis points but off the lows. The 10 year reached a low of 1.445%. It is currently at 1.471%, unchanged on the day. The 2 year fell to a low yield of 1.486%. It is currently at 1.502%.
In the gold market, the price hit a high of $1547.26. We are currently at $1538.02, down $-4.73 or -0.31%.
The highs today in the gold fell short of the high from last week at $1555.07. However, the sell off is still relatively modest and the buyers are still more in control.
What would hurt the buyers would be on a move back below the August 13 high at $1535.11, and then the rising 100 hour MA at $1524.95.