The day started out boring but then went up over lunch and beyond, almost covering average daily range. Volume started out as the worst of the week but climbed to 1.6 billion NASDAQ shares at the close. Mixed bags on the Opening Range plays, but another call worked great on the NQ. See those sections below.
Net ticks: +16.5 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 worked enough for a partial, but we don’t count that one because we were still long NQ at the time and there was no gap in this direction, so the rules say to pass:
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.
My call triggered long at A at 4488.00, hit first target for 6 ticks, and stopped second half after raising the stop several times at 4502.00, 28 ticks in the money:
