The markets gapped down again and the opening ranges were a little wider due to early volatility, so we used the midpoint for the stops. This caused the ES to barely stop but the NQ worked, basically washing the two trades. The markets proceeded lower and stayed negative all day on 2.4 billion NASDAQ shares.
Net ticks: -2 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 barely stopped by a tick or two over the midpoint:
NQ Opening Range Play triggered short at A and worked:
ES Tradesight Institutional Range Play:
NQ Tradesight Institutional Range Play: