Breakout Failure

The all time highs were taken out.  But why did it fail?  Were there any clues?

1) Initial balance a 5 day low volume print. For a multi-month all time highs breakout?

2) TICK only did print +800 once the entire session, and that was the HOD exhaustion -- not something one would expect on an all time highs breakout.

3) A mechanical 9:00 HOD reversal sealed the deal, as the session sold off for the rest of the session.

4) And like we have been mentioning, the volatility pattern has been pause, explode.  Friday's 11.75 point volume, versus today's 27.50 point range

It's always nice when structure makes logical sense!