We had a small winner on the NQ and that was it. Markets opened flat and traded both ways, never quite covering average daily range. NASDAQ volume closed at 1.7 billion shares, although it looked much stronger out of the gate. Typical Friday.
Net ticks: +2.5 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:
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 into the Value Area at 3538.50, hit first target for 6 ticks, and stopped second half under the entry:
