And therein is a "clue" as to whats next. Extreme volume (again) with substantially less return for all the effort. Keep in mind, the "clue" is based on EOD input... IOW, it does not mean out of the woods on an intraday basis.
I had a long bias today based on a hypothesis. As I tuned into E.T. I noticed more and more traders looking for the squeeze higher and thought to myself it ain’t happening today. My question to you is why or how do you assume the bears exerted effort with little directional price movement? I saw lots of buyers spinning their wheels today. None of the buying spikes were followed by firm bids (after the opening range), just chop. My only thought would be to compare limit to market orders (obviously wanting to side with the limits), but never had much luck with those studies.