A very dull session with a gap up that filled after about 45 minutes and then rebounded into a narrow 4 point range on the ES for the last 5 hours or so. Volume was weak at 1.6 billion NASDAQ shares. See NQ section 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:
My ES call didn’t trigger as it was long over the UBreak, and that was exactly the high of the session:
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 typo’d his first call, but the intent was long at A at 3678.50, and that stopped for 7 ticks. His second call was a long at 3684.00 that triggered at B and stopped: