An inside trading day with the close again above today's Point of Control. Let's see if it holds this time.
On a narrow range day like today, you may see the market create these equilibrium zones. Sooner or later the market will break through these zones. I find it to be an interesting exercise to guess which direction the market will break.
Not an easy thing to do. The gradual trend of the $TICK can give clues, but is not infallible. I think that the 1400 to 1430 ET and 1500 to 1530 ET zones were easier guesses than the 1300 to 1400 ET zone. I think that the trend of the $TICK was more obvious in the last two zones than the first one.
Charles
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