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The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to Market Analysis for The Week Ahead
The best trades of the day were overnight or getting long right at the open based on the overnight move.
For NQ we were looking to short a failure in the 22760-22781 range and we were looking to get long on a look below and fail of the Friday/Tuesday lows.
The overnight high was 22781.25 and the premarket low was 22582 just below the 594.5 and 600 lows from Friday and Tuesday respectively. The short therefore resolved for nearly 200 handles and the long nearly 270 handles From last night’s plan:
For ES we were looking for either a LBAF of its relative equal lows or a hold of the 6230s and the 5/18 VWAP +2 standard deviation band. The premarket low was 6235.5 and a perfect tag of the VWAP band:
Reminder that tomorrow we have NFP and jobless claims and it is a shortened trading day ahead of tomorrow.
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