One of the big issues for me is trying to nail down foreshadowing Structural clues. Like today: Can I gleam if the day is going to liquidate down -- chug along to the upside -- or the afternoon pullback from the morning highs is a buy?
The last two days offer us a unique glimpse into market structure, offering up a decent lesson or two.
Yesterday versus Today:
Morning: Both days had a gap up with Positive TICK, deltas and volume. High confidence value being accepted above VWAP.
Late Morning: The days started to diverge here as yesterday broke the VWAP and value was accepted below. The VB indicator was printing -8000 readings and TICK had multiple -1000 readings. Contrast today where the VWAP held each test, the VB readings were printing higher lows and failed to read -8000 as the VWAP was tested. And there was just one tick -800 reading compared to yesterday, where a cluster of negative readings printed.
Afternoon: Yesterday afternoon selling below the VWAP brought in increased selling: volume and VB deltas above -8000. Today, the mid-session breach of the VWAP printed a outlier TICK low for the day with higher low VB indicator readings -- and the VWAP was just barley rinsed.
End of session: The momentum players from both camps pressed their positions as structure showed it's hand.
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