Big gap days are not usually much fun. The markets gapped up big, with the ES clearing the R2 level and traded even higher in early action. We then formed an inverted cup and handle, which finally broke over lunch, sweeping us on one trade before it worked a little on the second entry. Ultimately, we filled the gap for the session in the afternoon. See ES below.
Net ticks: -4.5 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:
Triggered short at A at 1664.00 and stopped for 7 ticks, then triggered again shortly after, hit first target for 6 ticks and stopped second half over the entry: