Big Rally
The E-mini S&P 500 opened and ran right through a resistance zone established yesterday. The buy volume line (green) dominated the sell volume line (red) of the TF5VCrs study until the initial high of the day was establish. Sellers came in and the sell volume line climbed. If the market holds, then if this initial wave of selling was short positions being put on, they will likely need to cover
Yesterday, following the strong start, the market pulled back to a support zone, and the TF5Um5D study diverged indicating sellers were not attracting a following. Then the market moved into trading range locked by the support and resistance zones.