A small winner on the NQ. The markets gapped down a little early, and the NQ filled, but the ES didn’t. We got a volume warning after an hour and things were pretty choppy, but then sold off over lunch, giving back the whole rally from the prior day after the Fed minutes. NASDAQ volume closed at 2.0 billion shares, holding up all day despite the slow start.

Net ticks: +2.5 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:


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 4008.50, hit first target for 6 ticks, and stopped second half over the entry. It did trigger again later and worked much better: