A wild day on Wall Street. The markets gapped down big and volume was heavy all day, very steady too as we pushed lower. Opening range plays were mixed, see that section below, but we identified the reversal and nailed a nice futures calls for 100 ticks on the NQ coming back up to fill the gap. NASDAQ volume closed at 3.2 billion shares.
Net ticks: +20.5 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 long at A and stopped, triggered short at B and went enough for a partial and nothing more:
NQ Opening Range Play triggered long too far beyond the boundary under our rules to take, and same with the short after:
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.
Triggered long at A at 4102.00 and stopped out twice before going, classic reversal setup into the gap against the LBreak. Ended up closing the final piece just under 4152.00 for basically 50 points/handles:
