As expected, not much going on on a Friday in the summer. We have about another 4-5 true summer Fridays left to go before things pick back up. Meanwhile, we did pull out a winner on the ES again, and we also had a trade call on the NQ that worked, but I canceled it officially going into lunch as volume was so light. NASDAQ volume closed at 1.4 billion shares.
Net ticks: +4 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:
Triggered short at A at 1955.75, hit first target for 6 ticks, bounced exactly off the LBreak/VAL level, and closed the second half 2 ticks in the money:
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.
The call here was a breakout at 3891.00 that triggered over lunch and A and would have worked:
