And the longest Hourly OB period for the MIDcaps comes to an end after 27 hourly bars at 2:30pm. It was also the second biggest rally in point terms. Only beaten by a rally in October 2014. 5 of the 6 largest Hourly OB rallies in terms of point gains have now occurred in 2016.
There should eventually be some re-trace - in the past, these monster rallies have tended to re-trace 40 to 80% of the point gain which would be 18 to 38 points in the MID - now trading at 1604.
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