Today we see a small gap up on the open with a bear attempt to go lower that was completely shut down by the buyers as if to say, not on my turf! This was met with huge buying pressure as more and more sellers realized they were on the wrong side.
The flood of sellers exiting added even more buy pressure into the move as they have to buy to get out of shorts causing a rip higher in price ahead of the inventories. Even after the inventories came out, we saw price come back to the same area where more buyers stepped back in!
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