Hi MJ, old time traders will see much significance in such a move where a jittery open gap doesn't cut the previous low by a hair's breadth. Seems to suggest strong hands guarding certain positions.
So, this maneuver may be seen to have bullish overtones.
On the other hand, a later break of this bottom, meaning a bull faiure of sorts, would normally signal a bear success....bit of a trap. (
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This is early in the day yet, so would be interesting to observe.
Amit.