Initial Pop Up on the Opening
The market started out trading higher, but the volume was low and the initial gains were lost. Before we see today’s action, we will review Tuesday’s TradeFlow chart.
By the looks of Tuesday’s trading, it appears that the holiday mood had already hit traders. The E-mini S&P had just a 3.75 range for the day. The buy volume (green) and the sell volume (red) lines of the TF5VCrs study tracked each other most of the day.
This morning, the E-mini S&P opened and traded up, but the buy volume line (green) of the TF5VCrs study did not climb, which indicated that the buying was weak.