I was analyzing patterns in short order and had the screen set for 240-minute charts as opposed to 60-minute charts.
One thing is clear though. The WVAPs of the hourlies (which are what those lines are based on) still work. When PPI showed up at an 8.4 annualized rate month over month and the Philly Fed Manufacturing Index hit into the -20s, the old stagflation fears hit the market. Where’d the market go? Right back to the center line of commercial holdings, the VWAP line around 13523. What remains now is how much of the fear factor will drive sellers and or buyers to react.
Bad chart, but still an accurate analysis. More will come, correctly scaled, soon!