Two winners and no losers for the Fed announcement. See ES and NQ below. Market volume was a little light at 1.5 billion NASDAQ shares.
Net ticks: +10.5 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:
Mark’s ES triggered at A at 1437.75 after the Fed, hit first target for 6 ticks, and stopped the second half under the entry:
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.
My short triggered at A at 2689.00 and hit the first target for 6 ticks and kept going. After adjusting the stop a few times, the final exit was 2684.00 for 10 ticks:
