Been taking a break from blogging but am back today :)

Rather nasty summer grind higher on our hands with VIX at def-con low levels. We respect the grind but are on high alert for a Big Red.

Today's mechanical low shifts the odds to buyers tomorrow

.  We are long in the overnight.

Big Red printed today as sellers hit the gas early on.   And the predictable responsive buyer-seekers hit our stop in the overnight trade!

A mechanical 9:00PT LOD today .  Mechanical lows are to be respected, and sure enough, "no more selling" and a B formation ensued today.

Major support on the daily also at this juncture.

We are long the overnight as a result of this structure.

We do think it quite possible for selling to occur again tomorrow. But we must respect the lack of sellers to get the job done today. And will go with buyers tomorrow if they materialize.

A wonderful example of just how absurdly hard the indexes are to day trade these days.

Hours upon hours of hardly any movement whatsoever.

And then the last hour dump-a-thon.

Late day liquidation moves in bull markets are typically bullish odds shifters for the following day.

But there is a mammoth all time high, minor high, now on the daily.

Bonds still trending higher with the second gap and go higher day in a row.

VIX hovering just cents above 12.

Volume multi-day low.

Big gap down just below that needs to be filled.

As much as I think this market is due for a Big Red, responsive buyers probably try their hand first.  If sellers show their hand, I'm going to jump on it.

A familiar outcome to a daily triangulating near highs.  They got new all time highs today but not by much.  Market closed dead on highs of day.

Volume today extremely low for a big breakout.  But it was a big overnight gap.

No exposure for us tonight in the overnight.  And our bias is mixed for tomorrow.

Nice visual HOD reversal today just beneath prior daily swing highs.

Nice reversal trade last hour, minor low of initial balance.

Nice that yesterday's excess tail indicated a high odds overnight long, with the swing highs begging to be tested like they almost were today.

Low confidence sell day today.   Two way auction process back into the range!

Is it just more consolidation before more upside? Or will sellers hit the gas?

A lot of selling underneath the market's hood today, some of it with big volume. Most notably the XHB down 2% on almost 3x relative volume.   Russel hovering on it's 200 day.

No calls for the overnight tonight.

Today's down gap,  and powerful responsive buying party has this market poised for an high-odds push higher tomorrow.