Because of the holiday trading schedule, TradeStation's software thinks that today is Friday's "P" period. However, today's volume distribution pattern suggest a bullish sentiment. The market closed above today's Point of Control, and right at Friday's.
During the lunchtime period, the market tested the overnight low and developed a bullish $TICK divergence. This helped create a narrow range market today. Today's range is below average, but not a 4 or 7 narrow range day.
Charles
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