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The colored section refers to the magnitude of the deformation (in inches) while the black outline is the undeformed geometry superimposed over the deformed model. The more red a section is, the more it has deformed while the more blue a section is, the less it has deformed. Notice that the deformation is at its highest where the load is applied, and there is no a lot of variation in the y-direction, as one intuitively expect.
Sigma_x
Now lets examine the stress in the x-direction