The markets gapped down Wednesday, almost as much as they gapped up Tuesday, but this time rallied up toward the gaps out of the gate. The NQ almost made it, but the ES did not. Most of the range was established by the first 2 hours and it was a bit choppy. It looked like there was an options unraveling move to the downside after the first hour, but then the markets rallied back in the last two hours and closed at the range highs on 1.9 billion NASDAQ shares.

Net ticks: +0 ticks.

As usual, let’s start by taking a look at the ES and NQ with our market directional lines, VWAP, and Comber on the 5-minute chart from today’s session:

ES and NQ Opening and Institutional Range Plays:

ES Opening Range Play worked again:

NQ Opening Range Play worked again:

ES Tradesight Institutional Range Play did not work today either way:

NQ Tradesight Institutional Range Play: