In the late afternoon session, traders were being less defensive as indicated by the slight rise in the Discretionary / Staples Stocks Ratio.
Also, the Financials in the afternoon stayed above the early mornings range, while the Futures were trading below its early morning range.
All in all, the broad market was having a tough time trying to trade lower in the afternoon with improving Discretionaries and Financials, and with the $TICK making higher lows and highs going into the bond market close.
Charles
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