Another 3 Ib day played out to perfection and in the process we had yet another 3 I day today.
Read my notes on 3I here – http://www.vtrender.com/content/mondays-orderflow
There was a whipsaw period in the middle of the day as large participants readjusted their inventory and realigned to the main trend of the day which was up.
On such days it has to be noted that inventory adjustments happen in the 1.00 pm to 1.30 pm period.
The important takeaway ( now that the day is over) will be that the pull back low at 5060 and 9950 will be important ref points for the auction going forward.
Expect bias to remain up as long as these two points are protected.