The markets gapped up a little and were flat for the first hour or so, then headed a bit lower after the oil data came out, and then recovered over lunch, with the NASDAQ back to its opening level for the close and the broad market slightly higher on 1.6 billion NASDAQ shares.
Net ticks: -4 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 worked eventually:
NQ Opening Range Play triggered short at A and stopped. The long at B was not valid because we were still short ES and it was not in the direction of the gap:
ES Tradesight Institutional Range Play:
NQ Tradesight Institutional Range Play: