The programs hit the 20 day and the overnight crawled higher for another successful trade as the market gapped up.
Yet, the cash opened and the powers-to-be felt the need to re-balance all of that inventory and they pushed it below gap fill.
And then the Zombie buyers showed their hand for a push to range highs.
And then it just went into a lifeless August coma.
No call tonight. I have no significant edge who's going to seize control.
On one hand, today's action was nothing but inventory ping-pong. On the other, the 20 day hold shows buyer control.
If the buyers are really weak early on tomorrow, I'll be leaning towards a seller-control bias. This is the 3rd day in a row of morning inventory re-balance weakness and then a buying response.
This pattern is due to get annihilated.
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