A really disappointing session with no structure. We gapped down and basically gave back the small gains from Friday’s half day (which happens almost every year), but it took all day. Horrible range and only 1.4 billion NASDAQ shares traded.
Net ticks: -14.5 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 long at A and stopped, triggered short at B and stopped:
NQ Opening Range Play triggered short at A but we don’t take that because it is not into the gap (would have worked anyway) and we were long the ES at the time (it stopped a minute later, but we stick to the rules), triggered long at B and worked:
ES Tradesight Institutional Range Play:
NQ Tradesight Institutional Range Play: