Equities trade on a cautious note amid rising US Treasury yields. The Dax 40 has failed to hold on to its gains above 15400, prompting the bulls to scramble for the exit. A drop below the previous swing low of 15280 would confirm the lack of follow-up bids and potentially trigger a broader liquidation. The psychological level of 15000 at the confluence of the lower end of a previous consolidation and the 30-day SMA is a major floor. 15450 at the top of a brief rebound would be the first hurdle when buyers make their way back.
