The markets gapped down and ultimately pushed lower a bit, then spent the whole day crawling back up to almost fill the gaps on 1.55 billion NASDAQ shares. Opening Range plays were exactly a wash and another trade didn’t work.
Net ticks: -7 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 and NQ Opening and Institutional Range Plays:
ES Opening Range Play triggered long at A and stopped, triggered short at B and worked:
NQ Opening Range Play triggered short at A and worked, just barely stopped the second half out in the money a little before it went and ran much further:
ES Tradesight Institutional Range Play:
NQ Tradesight Institutional Range Play:
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.
My call triggered long at A at 4784.00 and stopped heading into lunch, then ended up working a little while later without me.