Symmetrical day around the 1:00 pm time stamp. Volume was below average.
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More positive earning reporting by a bunch of companies. Particularly Caterpillar Inc (CAT) and Merck & Co (MRK).

Everyone was expecting a rally from the oversold market. They got one lasting 45 minutes. Then it was lower highs with lower lows for the rest of the trading day. No new lows were printed. Volume was average. It seems to me like consolidation taking place. Also the day was light on economic news.
Big Pharma [...]