The Red line is a simple 50 period moving average (MA). A new high is a buy also, and it's the best kind of buy signal because it's bullish action on top of Friday's bullish price action; which was "buy me" price action for sure.
If it can hold at least the bottom level and get back above that 50 period MA, I'm buying.
Something is going on. If I had to speculate I'd say this is a reaction to the FOMC's latest move.
It's 11:28pm now, it took me over 20 minutes to write this. I like reading way better than writing.
Good luck traders.