A nice day for the calls with 3 winners out of 4 triggers even though none followed through. See the ES, ER, and NQ sections below. The markets gapped up and headed lower initially, with the NQ filling the gap, but not the ES. NASDAQ volume started strong but stalled out and never came back in the afternoon, closing at 1.6 billion shares, the lowest of the week. Doesn’t bode well for Thursday and expiration leading into the Holiday weekend.
Net ticks: +7.5 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:
Mark’s call triggered short at A at 1843.50 and stopped for 7 ticks. He did not re-enter:
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 3484.50, hit first target for 6 ticks, stopped second half over entry:
Triggered short at A at 1121.10, hit first target for 8 ticks, stopped second half over entry. Because that went so far, I put the same call back in, and it triggered 15 minutes later at B, hit first target for 8 ticks, and stopped second half after two adjustments for 10 ticks: