chart: SPY gap open was sold into

Courtesy of TradeStation

This is a 4min chart of the SPY.  The white box highlights the gap open.  The red line histogram at the bottom is the OBV.  As the market gapped up the OBV displayed red lines below zero indicating that the open was being sold into.   If the gap up open was being bought the OBV histogram would have had green lines above zero.

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