The markets gapped up and were sitting flat after an hour on horrible volume, then dropped on some Fed comments that there was no need to lower rates, and then rebounded in the afternoon to around even on a weak 1.7 billion NASDAQ shares.
Net ticks: +41.5 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 under the midpoint, triggered short at B and worked huge, 20 HANDLES for the close:
NQ Opening Range Play triggered long at A but too much risk to take, triggered short at B and worked:
ES Tradesight Institutional Range Play:
NQ Tradesight Institutional Range Play: