We'll see a flood of buying on the Open or we won't. It's that simple. The first 5-minute bar should be telling. If it's a nice green candle, we should hold that for the rest of the session if today's an Up Day. An alternative scenario is a weak dip into yesterday's range/close and then higher from there. But any selling on the Open should warrant some caution that we will indeed go lower on the day.
ES filled gap. NQ not. Waiting to see if NQ's gap close can reverse this. Too early to pick a bottom, IMO.
3814 is last week's RTH mid-point. Plenty of time to go long if this bottoms out, so no need to become a bag holder here. I'm not sold on the short side either, so just sitting this out for now, but watching for long entries.
NQ filled gap now. Still to early, I think. Patience... Could go all the way to low 3800 on a weak dip.
Ready to start trailing my exit if we don't take out the HOD here. It's far from certain at this point, although the market does seem to want to go higher.
Volume chart updating faster than I can blink. Too wild for me... Two-sided market so far. Maybe taking out the HOD will change that. Remains to be seen. At this point it's just random noise/orders, so I'm just going to lock in 1,5 points and see where it goes.
At this point, I find it hard to read if we're running into temporary resistance at the Open and will pop through eventually or if we'll actually reverse here. Does anyone have a different read? But since I have a position on, I will "gamble" with what I have on locking in 3 points of profit. Big picture I think 3850 today, but these micro moves are not easy to read. I would not have initiated a new position right here as this is just noise to me.
I'm looking for higher prices. It may not necessarily be today. That being said, intra-day charts are all pointing upward.