Weak Sellers

We made a call for Red and that's what we got but in a rather minimal fashion!   Well, sort of, as the day finished up two ticks.

Low volume, low confidence price action chop lower printed a minor low of the prior session (TRADE OF THE DAY).  Then hungry buyers rocketed price back up to value area high.

So, all today did was rinse out a bit of weak hand inventory, inside range of the prior session.  And that, folks, shifts odds for further upside.  Unless some sort of negative news hits, the sellers have no chance but to endure an upside push.

Lots of good structural cues today on the 5 minute.  For a 12 point range day, it was a great trading day.

Today we will also start featuring a stock or two of the day to broaden out this diary.

Stocks: K relative volume way up before the launch!