In our last update using the composite charts we had posted on Monday-
That vwap band is currently extended at 2 standard deviations off mean which give a 5 % probability to a new move below current lows.So a small pull back may be due here.
Today's charts show that the pull back worked out perfectly in the "reversion to the mean" trades we have been tracking.
These kind of trades work best when the market is balancing or is not in a trending mode.
The chart above shows a composite POC in white which is flat and the orange vwap line again flattening.
Today's close brings the market back to it's mean price and the open tomorrow will have cues for the market to stay above or below this all important reference point.
The BN profile shows a move above the vwap lines , but it was a spike in the last hour of the day which made it possible.
Spike rules apply in BN at the open tomorrow.