Basing Action

Today's range 30 points. And 90% of the session was balance below the VWAP. They couldn't break it down below yesterday's lows and they couldn't break at higher above yesterday's highs.

In the overnight so far, the daily range lows have been breached and reversed. This is bullish--so far.

We just have to see if responsive buyers continue to step in, or whether or not the daily range lows breach will garner more business.

I am of the opinion that the push higher is in the cards still, yet am cognizant of the fact that it two days basing action could be of the continuation lower variety.