NQ Open Gap Update

5 hours ago

Strange day, did not expect the premarket pump, otherwise I would have bought the puts this morning instead of yesterday afternoon. No big deal, I made money today.

I closed my puts at the top of the gap, and noticed that the gap didn't completely fill. (QQQ did, but I looked at other Nas futures, they didn't fill either.)

Does it matter? Just a couple of points? Looks like it does because futures are red. I did not re-enter into puts because sometimes the gap will fill overnight, then they can pump in the morning. However, I think RSI is gonna head to oversold, not going long until then.

ANyways, futures gap almost always fill. I think there was one this spring that did not fill. I was busy moving, so I didn't update that post.

Also, my MFI indicator doesn't seem to be working right now, or there's no money flowing into futures. That's bearish.

2 hours ago

Note

There were 2 open gaps this past spring, April 22 and May 11th. Big news can create open gaps, the initial COVID weekend gap took a couple years to fill. IIRC, both of the spring gaps were TACO news (Trump always chickens out).

The gap this weekend was caused by Japan's election results which has very little impact to the US, so it had to fill.