Look Above And Fail

Third day in a row of looking above the range and failing back in. Traders are going to keep doing what's working until it doesn't work anymore.

This is some grand range trading folks!

Today they pumped up the volume and volatility in the session, and also featured were multiple tick -1200 readings and -1400 readings. And it's been quite a while since these readings have printed. Back in March to be exact. And back then the readings did not portend to any meaningful downside.

As per usual, sellers didn't totally have their way today as late day reversal pushed price back up into the range.

So now we have excess above and excess below.

And buyers are trained to buy any dip.

The big bad job numbers come out tomorrow morning so we get to see if the buyers throw another party after today's liquidation event or if the sellers are really going to get something going.

Odds go to buyers barring any major negative news coming in.