Note how we've sustained price above VWAP (red line), building volume at progressively higher prices (blue arrow at right). All day long we've had only one reading of NYSE TICK < -800, suggesting that institutions have not been significant sellers all day long. Relative volume has been below average, creating a slow grind up. It's common to confuse such slow trade with a weak, topping trade, but as long as more stocks are ticking up than down over time, the path of least resistance tends to be to the upside.
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