* Dow, S&P 500 red, Nasdaq gains
* Financials weakest S&P sector; tech leads gainers
* Euro STOXX 600 index up ~0.7%
* Gold up; dollar, crude, bitcoin fall
* U.S. 10-Year Treasury yield ~1.54%
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INITIAL U.S. STRENGTH FADES, INDEXES TURN MIXED (1005 EDT/1405 GMT)
After an opening push higher, Wall Street's main indexes have turned mixed. This as investors are digesting a solid rise in monthly consumer prices, and a dip in bond yields. .N
The Dow .DJI and S&P 500 .SPX are now trading down on the day. The Nasdaq .IXIC , although already off its early high, is being boosted by tech stocks .SPLRCT , and is still in positive territory.
Of note, the major indexes, as well as the S&P tech sector, have all fallen three-straight days.
Meanwhile, with the U.S. 10-Year Treasury yield US10YT=RR back down to the 1.54% area, financials .SPSY are taking the biggest hit among S&P sectors.
Here is where markets stand in early trade:
(Terence Gabriel)
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NASDAQ 100 TRIPLE-Qs: GOING WITH THE FLOW (0907 EDT/1307 GMT)
The Invesco QQQ Trust Series 1 QQQ.O , which tracks the Nasdaq 100 index .NDX , is down around 6% from its early September high. In so doing, it has also violated a monthly support line from its March 2020 low.
Meanwhile, one indicator that incorporates both price and volume, the Money Flow index (MFI), continues to track within converging trendlines:
On a monthly basis, and since early 2018, the MFI has been trapped between a resistance line from its 2014 high and a support line from its 2009 low.
After once again topping shy of the resistance line this past August, the MFI appears on track for another test of the support line. Another test of that support line could suggest risk for greater QQQ weakness.
However, if the support line can continue to work its magic, and the MFI can bottom, a significant QQQ low may once again be found.
Conversely, an MFI support line break will end what has been a consistent pattern, and instead suggest potential that QQQ weakness may become a waterfall slide.
(Terence Gabriel)
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FOR WEDNESDAY'S LIVE MARKETS' POSTS PRIOR TO 0907 EDT/1307 GMT - CLICK HERE:
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(Terence Gabriel is a Reuters market analyst. The views expressed are his own)