We were not blind to the fact that inventory was getting really long and that some sort of inventory re-balance could be in the cards. And that's what happened today with a little bit of news coming out.
Volume and volatility spiked. Looked scary.
But the sellers exhausted right on cue -- and that is never good for downside continuation.
We will highlight the structure of the selling on the 5 minute.
And clearly point why today the selling was doomed.
Two perfect trades of the day featured today.
Now let's unpack the 5 minute movement a bit. Today is worth the effort.
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