The markets gapped up (unusual for end of quarter days) and then closed right where it opened (usual) on 1.5 billion NASDAQ shares. We are definitely in end of quarter mode. The Opening Ranges worked.
Net ticks: +14.5 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 worked but because of a conflicting sell signal, I posted a note to close for 2 ticks gain. Note that there was an adjusted candle at B that closed under the ORL but did not happen in real-time in the morning:
NQ Opening Range Play triggered long 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.
Mark’s call triggered short at A at 4481.00, hit first target for 6 ticks, and stopped second half over the entry:
