Despite the early session highs unable to mount any sufficient move higher, the real key once again was the minor low reversal 1st hour of Friday's range lows.
And when price explored down towards the range lows at 9 o'clock and reversed, it was even more crystal clear that sellers were not in the house.
When price explored back down near range lows once again at 11 o'clock, a picture-perfect reversal ensued.
Once again all of our 3 major time zones created programmed reversals. 1st hour, 9 o'clock, 11 o'clock.
Some key momentum stocks got creamed today, and it really didn't matter. At least for today.
If it wasn't for the underlying damage in these high flyers today I'd be all over calling for a high confidence push harder tomorrow. This diverged metric always lessens my confidence.
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