We gapped up and filled the gap, setting up some nice Value Area plays, but they never came to fruition as the markets took a breather after the last couple of days. NASDAQ volume, which was so strong yesterday at 2 billion shares, closed at less than 1.5 billion shares.

Net ticks: -11.5 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:

ES:

Triggered short at A at 1960.00 breaking under the Pivot into the Value Area, but stopped for 7 ticks. Put it back in and it triggered soon after and missed the first target by a tick. We did not re-enter:

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 3864.50, hit first target for 6 ticks, and stopped second half above the entry:

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