T is the x day range ((Highest High / Lowest Low) * 100) – 100. I’ve been looking at that a little lately. Today is interesting, in that the 3 day range is 1 percent which is quite low, but this move started from last week’s high, so the 1% is all to the upside, Note how the 7,13, and 21 day ranges increase 1% along with it. Increasing range is usually associated with down moves, but then the 3 day would expand instead of contract.
