The markets gapped up, filled, and most of the morning was flat after that. We dipped lower over lunch but recovered, and then dipped again in the afternoon, although the NASDAQ side stayed stronger. NASDAQ volume closed at 2 billion shares, which was partially about the end of the month. Our opening range plays worked well, and there was a nice setup on the NQ also. See those sections below.
Net ticks: +0 ticks.
As usual, let’s start by taking a look at the ES and NQ with our market directional lines, VWAP, and Comber on the 5-minute chart from today’s session:
ES and NQ Opening and Institutional Range Plays:
ES Opening Range Play triggered short at A and worked:
NQ Opening Range Play triggered short at A and worked:
ES Tradesight Institutional Range Play:
NQ Tradesight Institutional Range Play:
NQ:
Just a reminder that we use half points for ticks on the NQ and not the quarter point measurement that the exchanges switched to in recent years. This allows us to use 6 ticks as a key target as we do on the other contracts. It also keeps the value of a tick at $10, closer to the value of a tick on the other contracts.
Classic setup from our course, set the LBreak at A and then triggered short at B and worked straight to S2:
