Here are the OrderFlow charts of Friday''s session.
The day was similar to Thursday's auction.
What is standing out to me is the fake move lower immediately after the IB is over which is not followed by a move in the BN below IB.
This is designed to catch out stops of long day traders before a move higher to day high. We saw the exact play on Thursday in NF.
The trades of note were :
1) ) The IB band trade from IBL to IBH in NF
2) A buy around VAH in BN
3) A buy around vwap in NF and BN.
Our system rules mention clearly that a market above vwap and VAH has buyer control. This played out Friday with the OF blue signal.We had a whipsaw as the market attempted a move lower which generated a sell signal. Incidentally it is the first sell signal which failed in MAY to produce results for us. It may allude to the changing nature of the market.
Another good thing was the DPOC moving well above 4900 by the close. I had made a point in the post a few days back that when the market was last here at 4900 plus the POC/ DPOC were much lower.
There is still the seller at 4930-39 which will have the attention of bulls. We will see what reaction we get in Monday's session.