The markets gapped down a little and the ES reached up to fill the gap quickly, then everything rolled and we proceeded lower for the rest of the session on 1.8 billion NASDAQ shares.
Net ticks: +15 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 worked enough for a partial, triggered short at B and worked:
NQ Opening Range Play triggered long at A and didn’t work, triggered short at B and did work:
ES Tradesight Institutional Range Play triggered short at A and worked:
NQ Tradesight Institutional Range Play triggered short at A and worked:
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 4451.00, hit first target for 6 ticks, and he lowered the stop several times and stopped the final piece at 4439.00 for 24 ticks: