A small winner on the NQ and that was it (the ES trade never triggered) as the market settled into lower volume (1.6 billion NASDAQ shares) than we saw last week ahead of the 2-day Fed meeting and lots of key data due Wednesday. Range overall was narrow. See the NQ section below.

Net ticks: +2.5 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:

NQ:

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.

Triggered short at A at 3368.00 breaking under the Value Area and LPT. Hit first target for 6 ticks, stopped second half over the entry:

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