The markets opened much flatter and were choppier than the last few days. We pushed lower early, then reversed to highs, topped out on a ES Comber 13 on the 5 minute chart, and then got stuck in neutral on the VWAP for the last three hours on 2.2 billion NASDAQ shares. Opening range plays worked, see that section below, and the main trade call didn’t trigger.
Net ticks: +15.5 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:
ES Opening Range Play triggered long at A and worked enough for a partial. Triggered short at B and worked enough for a partial:
NQ Opening Range Play triggered short at A but was too far beyond the lower boundary to take under our rules. It did trigger long later, but much later, and I didn’t take it (would have worked):
ES Tradesight Institutional Range Play:
NQ Tradesight Institutional Range Play: