We predicted this wouldn’t be the most exciting week between the time change, 2-day Fed meeting, and triple expiration, and so far, we’ve been right. The markets gapped down and really did not much all morning in a narrow range, eventually closing on 1.4 billion NASDAQ shares. The Opening Range plays gave us a winner and a loser with early morning action so narrow.
Net ticks: -5 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 triggered short at A and didn’t work:
NQ Opening Range Play triggered short at A and worked:
ES Tradesight Institutional Range Play:
NQ Tradesight Institutional Range Play:
ES:
