Four triggers, and three of them worked (ES, YM, NQ, YM again) to their first targets. See those sections below. In the end, though, even though market volume was up (NASDAQ volume closed at 1.6 billion shares), the ES was only in a 5-point range as the market awaits the Fed on Thursday.
Net ticks: +1 tick.
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 1435.75, hit first target for six ticks, second half stopped at 1435.25:
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 short at A at 2792.50, hit first target for 6 ticks, lowered stop over entry at stopped just barely on the next bar:
YM:
Mark’s call triggered short at 14337 at A and stopped for 10 ticks initially, then triggered again at B and hit first target for 10 ticks, then stopped under the entry:
