chart: Today's Open

Courtesy of TradeStaion

On today's BIG gap down open, the OBV histogram in the SPY 4min chart above, had green and yellow bars above the zero line.  No wonder the market is trading above it's low.   Buyers were coming in at the open and at 10:50am they are still there.  Normally the OBV histogram would be below zero in red and yellow bars and the selling would continue in the direction of the opening trend. 
It would not surprise me to see a counter trend rally develop at sometime and into the short term cycle dates of Jan 11-15.  More on the cycle dates soon.

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This has been posted for Educational Purposes Only.   Do your own work and consult with Professionals before making any investment decisions.  
Past performance is not indicative of future results