The markets opened flat and sold off. Would have been a great futures session if the ES long hadn’t stopped out, as we had 3 other winners. See the Opening Range and NQ sections below. There was also a nice short under the LBreak on the ES. NASDAQ volume closed at a steady 2 billion shares.
Net ticks: +0.5 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 stopped, triggered short at B and worked enough for a partial:
NQ Opening Range Play amazingly never triggered long while filling the gap, triggered short at A and worked enough for a partial:
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 4723.50, hit first target for 6 ticks, and stopped second half 9 ticks in the money: