The market traded back toward Friday's Point of Control. I haven't been keeping the statistic of how often the market trades back to the previous day's Point of Control, but that is a good statistic to have.
The blue line on the Advance - Decline Line ($ADD) chart and the VIX chart is a Midas Average. It is similar to the VWAP Line, except that it does not take volume into account. Basically, on the first bar, it is a one-bar average. On the second bar, it is a two-bar average, and so on. When the AD Line is above its Midas and the VIX is below its Midas, the market is bullish, and vice versa for bearishness. After 1000 ET, both indicators were bearish and stayed that way the rest of the morning.
The bullish crossover only gave us a correction back to the VWAP Line. The market then went back to its bear trend.
Charles
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