[Dogpile]

ok, trend day should be 'elongated' on 30-min. Fat profile shows lack of conviction in the directional auction.

ie, today (June 6) -- S&P futures have touched 20.75 and 21.00 on 6 different 30-min bars. I call 6 touches as a 'fat profile' and say that the market is balancing if it touches the same price on 6 different bars. What do you use as your 'line in the sand' as to what makes for an 'elongated profile'/trend-day and what doesn't? (FTR, I don't base any trades on this directly, just context for other set-ups). I am not saying 6 touches means anything specifically, just seems like electronic markets have a tendency that when they go down --- they go down quickly... and so hanging around for 6 30-min bars is sign of possible longer-term, patient buyers coming in to nibble and offsetting some others long liquidation.