The markets gapped down for the session, and our call to head back and fill the gap never triggered. The trade for pushing lower didn’t get into the Twitter feed, and then another trade never triggered. The NQ short under the Pivot was the call that worked. The markets pushed sharply lower in the morning and then flattened out the rest of the session. Volume was 1.8 billion NASDAQ shares.
Net ticks: +0 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.
