There was zero headline data today to affect price action so I thought about remaining on the sideline and watching the market play out. After the market opened the ES pushed up to the PDL/ONH zone and got rejected and more so the NQ. The NQ formed a perfect cusp trade at 9.48 a.m. but owing to the lack of data I did not think to enter the market. The NQ promptly sold off for over 100 points in the next 10 minutes leaving me with nothing to do and watch in amazement. When the ES formed a reverse cusp on the short side I took the short thinking maybe we were going much lower. Alas, the ES kept bouncing off the ONL level and ultimately took me out for a R1 loss in the NQ.
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