Otherwise, today's action was unique on several fronts.
First. this is the only time over the past 2 weeks when we have seen the short term chart (5 minute bars) with the ADX and the Ergodic indicators in sync, which suggests there was less HFT manipulation than normally seen and that the recorded buying was in fact real accumulation. That's bullish. At the same time, just like yesterday we saw a substantial volume surge in the last 15 minutes. Today's SPY volume stood at 66M at 12:45. 15 minutes later it was 88M. In fact, most of the action was in the last 5 minutes...and looking at yesterday's close we see the identical pattern.
Keep in mind tomorrow is Friday so the odds favor the bears and M# and LM are in cash.
