A loser on the ES and a small winner on the NQ to close out the week, month, and quarter. See both sections below. Volume closed out at 1.5 billion NASDAQ shares, better than expected, but obviously poor in general. Early action looked horrible, but the market ended up filling both yesterday’s gap (by reaching down) and today’s gap (by reaching back up) before closing about even.
Net ticks: -4.5 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 ES triggered long at 1603.50 at A and stopped for 7 ticks:
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 call triggered long at A at 2896.00, hit first target for 6 ticks, and stopped the second half under the entry:
