Gap-Day Playbook

SPY/QQQ gap worse than −0.75%. No entries before 9:45 ET.

Trigger

• Mark the 9:30–9:45 ET opening range on SPY and QQQ.
• Price makes a lower low under the range low after 9:45.
• Price reclaims BOTH the range low and session VWAP within two 1-minute bars.
• Index and the traded name reclaim together — no solo reclaims.

Entry

On the close of the bar that reclaims the range low and VWAP.

Stop

0.25 × opening-range width below the reclaim bar's low.

Target

2R. Scale half at 1.6R (standing profit-take), trail the rest.

Invalidation

• Two consecutive 1-minute closes back under VWAP.
• A second lower low before 1R — the trap failed, cut it.
• No follow-through within 10 minutes: time-stop out flat.

Same gap-day condition, only after a reclaim attempt has already failed.

Trigger

• Price pokes back above the opening-range low or VWAP and fails to hold it.
• A lower high forms below VWAP on declining volume.
• No sector leader tailwind against the short (leadership rail still applies).

Entry

Break of the lower-high bar's low, below VWAP.

Stop

Above the failed poke's high.

Target

Pre-market low first, then 2R on the runner.

Invalidation

• A clean 5-minute VWAP reclaim — flat immediately, no re-short into strength.
• Higher low forms above the range low.
• Range compresses under 0.15% — no fuel, stand down.