The markets gapped down again and pushed a little lower, just not as much as the prior session. In fact, we struggled to break the low of the prior session. We were testing the lows after lunch but then rebounded to the VWAP on 1.8 billion NASDAQ shares. Opening Range plays were mixed and not much else set up.
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 long at A and stopped, triggered short at B and worked:
NQ Opening Range Play triggered short at A and worked and I posted to take it anyway even though we were long ES and this was not into the gap:
ES Tradesight Institutional Range Play:
NQ Tradesight Institutional Range Play: