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What is going on with ES today?


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  #1 (permalink)
 planetkill 
New York City + NY/United States
 
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Today's ES open has been very different from anything seen in the recent weeks. Very small trading range, and prolonged chop through the entire open. Only after 10:05am EST did it finally pick its breakout direction.

7am - 9:30 am est it was in the most narrow range I think I've seen since BC (before-covid).

With my trading strategy I was able to make it through with very minimal losses so I'm not worried about that, if anything it's given me more confidence in it.

But I was just curious if anyone more experienced has any thoughts on today's ES open.

I'm guessing it has something to do with the gap up over the weekend.

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  #2 (permalink)
 
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 vmodus 
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planetkill View Post
I'm guessing it has something to do with the gap up over the weekend.

I'm no ES expert (not really an expert on anything, just a generalist), but that is how I see it. It is just some consolidation and rest before finding a direction.

ES and MES (running strategies on both) broke out earlier for me (around 7:10 ET to be specific).

~vmodus

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  #3 (permalink)
 planetkill 
New York City + NY/United States
 
Posts: 399 since Sep 2018
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What happened at 7:10?
Am I looking at the wrong thing?

I see that 7:10 is when it entered the tight range, and stayed around the same price level until after 9:30. Then there was some up/down traps, until 10:05am when it continued it's up trend.





vmodus View Post
I'm no ES expert (not really an expert on anything, just a generalist), but that is how I see it. It is just some consolidation and rest before finding a direction.

ES and MES (running strategies on both) broke out earlier for me (around 7:10 ET to be specific).

~vmodus


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Last Updated on July 13, 2020


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