The markets gapped down and never filled. Opening Range plays worked, as did an additional NQ call. NASDAQ volume closed at 1.5 billion shares again. See those sections below.
Net ticks: +21.5 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, triggered short at B and worked:
NQ Opening Range Play triggered long at A and worked. Also triggered short at B (and would have worked enough for a partial, but you aren’t supposed to take this because we are still long the ES and this is not into the gap:
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 short at 4488.50, hit first target for 6 ticks, and stopped second half over the entry:
