A few winners and a loser on the ES and NQ. Volume dropped back off sharply to only 1.4 billion shares after the nice start Monday. See those sections below for the recaps.
Net ticks: +3.5 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:
My short idea triggered at 1575.00 at A, hit first target for 6 ticks, closed second half at entry. Mark’s long idea, which he reduced to partial size as it approached over lunch, triggered long at B at 1582.50 and stopped, then triggered again at C, hit first target for 6 ticks, and stopped second half under the entry:
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 short triggered at A at 2561.50, hit first target for 6 ticks, and stopped final piece 5 ticks in the money:
