Any day's price action can be broken down into one of three general day models. Each of these three day types have their own trade setups that offer better chances for profits. The faster a trader can identify the type of day most likely at hand, the better chance he has of choosing which set of setup strategies are most likely to succeed.
One of these day types is the Test-and-Reject. On this day type, price often starts off quickly in one direction, is immediately rejected, and then turns and comes back to opening levels. A bearish Test-and-Reject day starts off like a basketball game where the Jump Ball sends the price straight up. But once tipped, the ball quickly falls back down into play. Today's action was just such a Jump Ball, giving an early signal that any price pushes above the opening would not be greeted favorably. Study all three types of day models in the course Pivots, Patterns and Self Recognition, and learn to recognize the best setup models that go with them before quickly, before the day's best opportunities slip away.