Two Way Auction

Well, you just can't make this stuff up -- as the trade of the day once again was to go long the minor low of the previous day's range.

Today, was a tad different of a pattern in the sense that they gapped it down in the overnight and the open was right in the minor low zone.  And then the short-covering was on.

Of key note, we will show how the steep angle of the morning ascent, combined with the lack of any TICK +800 readings, made it very high odds that a trend day session would NOT unfold.

But I have to hand it to the buyers. the 8:30 minor high reversal of yesterday's highs could very well have produced a significant reversal lower -- but it didn't.

And the pesky buyers closed the session on highs.

With that, the two way auction process goes on, and it's looking good for higher prices tomorrow.

One thing for sure, when this structure breaks, with volume, it's going to be fast and furious Red.  This mechanical grind higher stuff always ends the same way.