Yesterday, $EWZ, $ICF, $MDY and $SRS went ID/NR4 on the daily chart. Range contraction often precedes range expansion. Today could be volatile in either direction for these ETFs.
Toby Crabel popularized the Inside Day/Narrow Range of the Last 4 Days volatility breakout in his book Day Trading with Short Term Price Patterns and Opening Range Breakout.
He also wrote an 8-part magazine series on the subject for Stocks and Commodities.
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