The markets are holding below the open but well above Friday's high following this morning's sizable up gap, let's see what that has led to historically.
Day - Monday
Opening Gap Direction - Up
Market Status - Large morning up gap followed by sideways day
Instrument - ES, NQ, RTY, YM
Trading SetUp - Long
Market Trend - Weak Bull
Trade Type - Time Based Entry
Entry - 3:00 pm ET
Exit - 4:15 pm ET (Market Close)
Note: Most tests/studies are done going long using Future Indices. This is done for several reasons; so you can easily compare different studies/tests, and because of the high correlation of these Indices to other instruments. Make your comments and ask your questions below.
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