Washing, Washing...

Well, the programs did hit yesterday's minor low hard, and we are in the washing machine, so back up into the range they took it.

Early on, the proper logical assessment of structure was to go with the fact that yesterday's look down minor low and failure was being bought hard and no need to hold a short bias.  After the 8:00 pullback and reversal, it was clear the destination was yesterday's range highs.

If not long early on, the obvious trade for the day was wait until yesterday's range highs were hit.  All they could do was print yet another minor high of yesterday's range highs and it was a clear short signal as TICK diverge formed on the minor high.  Then target VAH or VWAP.   But buyers remained in control and end of day downside was very muted.

The obvious visual for the programs to target for Monday is the 5 day range highs at 1683 zone.  And from there we note if they plunge it back into the range or put on a more serious rally attempt.

But inventory is going back and forth each day, so a plunge lower would also make a lot of sense for Monday.

Great post about political stuff going down now.