Probably the worst futures trading day in a long time. One loss on a call and the Opening Range plays didn’t work.
Net ticks: -7 ticks.
A small gap down in the markets and some mixed action between the ES and NQ. Eventually, the NQ filled but the ES did not. We closed near lows on 1.6 billion NASDAQ shares.
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 didn’t work:
NQ Opening Range Play triggered short at A, hit a partial only:
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 4629.00 and didn’t work. I did not put it back in, but it would have worked the second time: