A very dull, slow session to start the week on light volume (really dropped off after the first 30 minutes, which had been looking good). The markets gapped up a little and filled and the rest of the morning was pretty dull. We started drifting up over lunch. Both Opening Range plays didn’t work. NASDAQ volume was 1.7 billion shares.
Net ticks: -28 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 didn’t work, you use the 50% line in the OR for the stop when the OR is more than 10 points wide:
ES Tradesight Institutional Range Play:
NQ Tradesight Institutional Range Play: