The markets gapped up and pushed higher (note the ES opened above the UPT) on 1.6 billion NASDAQ shares, which still isn’t great. We had 2 out of 3 winners on the Opening Range plays and another winner on the NQ. See those sections below.
Net ticks: +12.5 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 and NQ Opening and Institutional Range Plays:
ES Opening Range Play triggered long at A and worked:
NQ Opening Range Play triggered short at A and didn’t quite work, but you can take this trade even though you were long ES at the time because this one is into the gap. It then triggered long at B 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 long at A at 4363.75, hit first target for 6 ticks and closed out at 4371.50: