Yesterday nosotros saw stocks (ES futures, happen chart) essay to brand novel multiday lows, entirely to snap dorsum into their range. Today nosotros come across the reverse, every bit an endeavour to produce got out the highs from 8/25 was firmly rejected on aggressive selling (bottom chart). As is to a greater extent than oftentimes than non the case, the inability to sustain the novel highs targeted the day's VWAP every bit an initial downside objective together with the midpoint of the multiday attain every bit a to a greater extent than distant objective. Stock sectors are uniformly downward from their opening prices, indicating breadth to the rejection of higher prices. First one-half hr book came inward at pretty average levels; I'll hold upward watching for signs of a slowdown inward book to handicap the odds of staying inward the overnight attain (vs. breaking downward farther into the multiday range).
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