A horrible day of trading action despite good volume of 1.9 billion NASDAQ shares. The futures stayed in tiny ranges for hours at a time, and we got stopped out of the ES once and the NQ once. See both sections below.
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:
Triggered long at A at 1746.00 and did nothing forever, finally stopped for 7 ticks:
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.
Mark’s call triggered short at A at 3337.00 and stopped for 7 ticks: