It was clear inventory was still out of balance to the upside. And buy that break of the VWAP, and then buy for the breakout of morning range highs if not already long.
And the three-hour midsession base could not even test the VWAP and the tech MA was firmly above zero. All of the -600 tickets lower could not budge price below the supportive range. Lots of clues.
Today is one of the most spectacular examples of how a mid-session base breaks out, right at 11 o'clock, for a asymmetrical move higher break out of balance.
Great trading day!
Now that this market has not been rejected at the 2050 zone, we have to assume that the dog pile will continue. All-time highs is the major reference on the radar now.
A significant reversal here could have some teeth. But that is the low odds assessment at this point.
Now let's look at the intraday and document the amazing structure as it unfolded:
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