Volume ended up being worse than last week, and although stocks moved well, the futures market was extremely dull and spent most of the session stuck in the Value Area. Although we encourage less size in a light-volume environment, our raw data totals only account for net ticks. Mark’s ES short triggered twice and stopped both times (see ES below). The long idea never triggered.
Net ticks: -14 ticks.
As usual, we will start with a look at the ES and NQ with our market directional lines, Seeker, and VWAP:
Trigger was short at 1342.75, which triggered at A and stopped for 7 ticks immediately, then triggered 10 minutes later at B and took about 30 minutes before it finally stopped. Trade was cancelled going forward due to the horrible market volume: