The SPY and DIA reached the ML1 Level up in the first 30 minutes of trading. Both of these were of the IDMM-HP version at that time. The SPY reached the MS1 Level down around 11 AM. This move created an Intra-Day Reversal Pattern. This pattern occurs when the ML1 and MS1 are reached in the same trading day. The SPY then rallied to close near the Open. After a ‘Fast Move’ to the ML1, the DIA reached the Downside Limit around 11:30 AM. It then rallied and closed above the ML1 Level.
The QQQ was not of the HP version and reached the MS1 and MS2 Levels. The non-HP version indicates that there is a less likely chance of a close, in this case, below the MS1 Level.
