Mountain Frog Research

Sessions most like 2026-09-11, as of 11:30 ET

An early high that was given back in full through the open and has since been mostly reclaimed, on heavier-than-usual volume.

What would separate them: The next test of the morning high is the split: acceptance above it with a modest pullback is what the holders did, a sharp rejection back inside is what the faders did, and no test through the afternoon is the stayed-inside pattern. On a rejection, whether the sell-off holds above the late-morning low or cuts straight through it is what separated the faders from the sessions that swept the low.

These are sessions with a wide initial balance and an early high that was fully retraced by late morning; that shape is what the match selects on, not a finding. Within the set, today sits at the quiet end on daily range, below the corpus median as well, with an initial balance that is wide relative to that range and volume running above the corpus norm and near the middle of the cohort. Today has also recovered further back toward its morning high than most of the analogs had at this point. As a group the analogs went nowhere on net into the close, with a median finish close to the corpus median and the spread coming from which side of the morning range got tested.

Resumed and held 4 of 12

Broke the morning high in the afternoon and accepted above it, with only a modest dip along the way, and finished higher than where they stood at the cutoff.

new high 4 new low 0 median to close +0.26 ATR
Probed and faded 3 of 12

Pushed to a fresh high but could not hold it; the rejection carried price back through the late-morning area and they closed flat to lower without breaking the session low.

new high 3 new low 0 median to close +0.06 ATR
Swept high then low 3 of 12

Made a new high, reversed, and went on to break the session low as well, closing weak or flat; the only camp to trade through the low.

new high 3 new low 3 median to close -0.22 ATR
Stayed inside 2 of 12

Never tested either extreme; the afternoon chopped inside the morning range and closed a shade below the cutoff.

new high 0 new low 0 median to close -0.05 ATR

Written from the computed figures only, by a model that is not permitted to write a number — every count above is rendered from the same data as the table. Camps are one reading of these sessions, not a forecast: the matched features have been measured to add nothing over price position alone, so a cohort rate at this sample size is descriptive.

2026-09-11 — TODAY vwap +0.24· hi +0.43 @09:59 · IBgap -0.14· vwapΔ +0.06 · retr 26%/150%max in progress
All twelve, and today, on one set of axes hover a line to isolate it · use the plot column in the table below to drop a session — the scale refits to what is left, so hiding an outlier gives the rest the whole frame
Faint left of the cutoff: those sessions were selected for resembling today there, so the agreement is by construction. Everything that matters is to the right. Outcome is in the geometry as well as the colour — a new high is a line clearing its own earlier high — because red and green are the hardest pair to tell apart with colour-blindness.
What these became
7 of 12 expanded upward
after the cutoff, by which extremes they took
Room past the level
+0.35 ATR
median run from the cutoff price · +0.18 ATR beyond the morning high itself
Heat before it got there
-0.09 ATR
worst excursion against you between the cutoff and the extreme — not the whole session · worst -0.26 ATR · typically reached 13:55
What would catch it off guard
5 did something else
3 went both ways, 2 stayed in balance · worst close -0.47 ATR

What kind of session these became — expansion one way, both ways, or balance — on the same four-way split the corpus study uses, where balance is a third of all sessions. Deliberately not a hit rate: which extreme gets taken largely restates where price already sat at the cutoff, and nobody holds to the close anyway. How far it ran, what it cost to sit through, and when it got there are the parts a trade is built on. n=12.

plot sessiondistATRIB /ATRRVOL retr nowretr max to closemax upmax down new highnew low
2026-09-11 — today0.0039.20.571.1326%150%in progress
2025-10-130.7048.80.721.2620%132%+0.06+0.41-0.21YES
2023-06-050.8538.00.491.2349%150%-0.47+0.20-0.66YESYES
2023-10-090.8846.50.400.8431%135%+0.80+0.92-0.09YES
2026-05-220.8978.20.480.8014%150%-0.29+0.13-0.38YES
2025-07-011.0346.20.410.9142%144%+0.08+0.35-0.26YES
2024-01-301.1336.20.280.7332%129%-0.06+0.16-0.28YESYES
2024-11-261.1851.20.310.8612%150%+0.21+0.35-0.09YES
2022-10-241.2080.00.711.6269%150%+0.26+0.42-0.07YES
2023-07-191.2030.20.451.0643%134%-0.22+0.21-0.47YESYES
2023-08-301.2346.00.631.0954%140%+0.11+0.26-0.11YES
2023-05-221.2446.20.661.1164%150%-0.11+0.21-0.23
2026-05-291.2461.00.411.0563%150%-0.05+0.16-0.27
cohort low30.20.280.7312%129%-0.47+0.13-0.66
cohort median46.50.481.0643%150%+0.06+0.26-0.23
cohort high80.00.721.6269%150%+0.80+0.92-0.07
cohort hit rate10/123/12
CORPUS median (n=967)50.50.511.0034%60%+0.05+0.30-0.28
CORPUS base rate56%50%

All ATR-normalised and measured from the 11:30 cutoff. max up / max down are forward excursions after the cutoff — not the session extremes, which in most of these were already set. new high / new low ask whether the post-cutoff move exceeded the pre-cutoff extreme. Click any row to expand that session's chart to full width and jump to it; click again to collapse.

2025-10-13 d=0.70 vwap +0.27· hi +0.55 @10:00 · IBgap -0.06· vwapΔ +0.08 · retr 20%/132%max closed +0.06 ATR
2023-06-05 d=0.85 vwap +0.11· hi +0.32 @10:01 · IBgap -0.20· vwapΔ +0.01 · retr 49%/150%max closed -0.47 ATR
2023-10-09 d=0.88 vwap +0.13· hi +0.35 @10:00 · IBgap -0.00· vwapΔ +0.08 · retr 31%/135%max closed +0.80 ATR
2026-05-22 d=0.89 vwap +0.17· hi +0.25 @09:40 · IBgap -0.18· vwapΔ -0.02 · retr 14%/150%max closed -0.29 ATR
2025-07-01 d=1.03 vwap +0.10· hi +0.38 @10:18 · IBgap -0.00· vwapΔ +0.06 · retr 42%/144%max closed +0.08 ATR
2024-01-30 d=1.13 vwap +0.07· hi +0.21 @10:00 · IBgap -0.07· vwapΔ -0.02 · retr 32%/129%max closed -0.06 ATR
2024-11-26 d=1.18 vwap +0.12· hi +0.17 @09:51 · IBgap -0.05· vwapΔ -0.03 · retr 12%/150%max closed +0.21 ATR
2022-10-24 d=1.20 vwap +0.11· hi +0.37 @09:46 · IBgap -0.18· vwapΔ +0.04 · retr 69%/150%max closed +0.26 ATR
2023-07-19 d=1.20 vwap +0.01· hi +0.44 @10:11 · IBgap -0.01· vwapΔ +0.07 · retr 43%/134%max closed -0.22 ATR
2023-08-30 d=1.23 vwap +0.06· hi +0.45 @10:14 · IBgap -0.29· vwapΔ +0.06 · retr 54%/140%max closed +0.11 ATR
2023-05-22 d=1.24 vwap +0.07· hi +0.37 @09:41 · IBgap -0.09· vwapΔ -0.02 · retr 64%/150%max closed -0.11 ATR
2026-05-29 d=1.24 vwap +0.04· hi +0.34 @10:00 · IBgap -0.06· vwapΔ +0.08 · retr 63%/150%max closed -0.05 ATR

How these were matched

Matched on seven measures, all ATR-normalised and z-scored: distance from VWAP, magnitude of the high off the open, the clock time of that high, expansion of the price-VWAP gap across IB creation, how far VWAP itself was dragged, and how much of the drive has been retraced — both currently and at its deepest. The IB-gap and VWAP terms separate a day that trended from one that chopped to the same place; the retracement terms separate a day still pinned near its high from one that has round-tripped to the open. Ordered nearest first. Solid = up to 11:30, the part matched on. Faded = the rest of the day, the part to read. Shaded band left of the 09:30 marker is premarket from 06:00 ET. The y-axis is a shared ATR ruler with the session open at 0, identical on every tile, so magnitudes are directly comparable.

n=12. This is a case-inspection tool for rare behaviour — sort the tiles into camps by eye. It is not an inference tool, and a percentage taken off this many charts would not mean anything.

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