A small winner on the NQ in what was otherwise an impossibly narrow session on light volume as we wait for the Fed. Just looking at the ES charts below is remarkable to see how flat things were.
Net ticks: +3 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:
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 long at A at 3175.00, hit first target for 6 ticks, and stopped the second half at the entry: