Another horrible volume day in the markets, with NASDAQ volume ending at only 1.3 billion shares. Barely worth trading. We had a winner in the ES and a double stop in the NQ. See both sections below.
Net ticks: -11.5 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:
ES:
Triggered short under LBreak after setting it perfectly at A at 1411.75, hit first target for 6 ticks, and stopped the second half over the entry:
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.
Mark’s NQ triggered short at 2767.75 at A and stopped for 7 ticks, then again at B and the same result:
