SPDR S&P 500 (SPY)

[TechniTrend]

Not necessarily, they are the normal algo range which moves along the day... of course if the H - L of the day is tight then the range doesn't change much.

At yesterday close the prices actually moved beyond the normal range and on top, the longs were cleaned, so it was within the logic that prices would pull back in range... and the only targets availables then were shorts... so Today's action