The buyers are on a holiday and the sellers have forgotten how to play.
A declining VWAP tells us that the seller wants to dominate the landscape, but the downmove so far has not been very convincing.
If bears are talking about tops and a 5% correction, they have to show a lot more aggression than seen now.
The buyers were seen in the first two mins of the day action and so far have not shown up. The markets have spent a lot of time first around yesterday’s highs and now currently auctioning between R1 and VAH.Below VAH can see POC at 6185.
The BN is still within that 12670-12750 range.