The markets were dead early waiting for the Fed, and then we got a couple of setups (ES setting R2 and NQ setting R1) to call and play in the afternoon. See NQ section below. NASDAQ volume closed at 1.7 billion shares.
Net ticks: +7 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 at A at 3784.50, hit first target for 6 ticks, raised stop twice and stopped at 3788.50:
