The one indicator that suggested a bullish morning was the down trending $TRIN. When the market has a trend day, the nearest range extreme is usually defined early, such as in the first 30 minutes. Today, the buyers entered the market as soon as the ES Futures traded down to the average nearest range extreme on the short side of the open. It found a little resistance at the long side of the open at the other average nearest range extreme. Once past this mark, resistance was again found at the +1 standard deviation of the average nearest range extreme. Once past this point, it became support, which is typical in a strong trend day.
Charles
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