The markets opened dead flat, went lower initially, the NASDAQ side bounced, and then everything drifted back down after lunch with the ES closing near lows and the NASDAQ in the middle on 1.6 billion NASDAQ shares. Opening Range plays worked great, and I had another call on the NQ that worked a little.
Net ticks: +14 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 short at A and worked:
NQ Opening Range Play triggered short at A and worked:
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 short at A at 4525.00, hit first target for 6 ticks, stopped second half over the entry: