Another day with volume heading LOWER, and we continue to see sweeps before moves on the triggers. THe ES call triggered twice and stopped both before finally working. The NQ call worked fine the first time. Volume was only 1.4 billion NASDAQ shares, and it would have been worse except for late day news out of Europe.
Net ticks: +1.5 ticks.
First, let’s take a look at the ES and NQ with our market directional lines, Seeker, and VWAP:
ES:
Mark’s long over 1316.50 triggered at A and stopped for 7 ticks, retriggered two bars later at B and stopped again, and then triggered at C and went to the first target, and then Mark updated the stop and stopped 5 ticks in the money:
NQ:
Remember that we use half points for a tick on the NQ.
NQ triggered long at A, hit first target at B, and stopped the final piece for 10 ticks:
