Nasdaq Futures Analysis– 18Mar2021

Nasdaq futures (NQ) trading has been volatile in the past week. Nasdaq futures hit our target of 13,250 and went up till 13,262 in a flash (after US Fed statement on holding interest rates down till 2023), but the Nasdaq futures could not hold the gains, and started losing all the gains. The momentum indicator (CCI) has moved sharply lower, and we will need the momentum indicator to stabilize and reverse in a reliable manner, for new long trades to start. 12,500 should act as a strong support, and the Nasdaq futures are likely to go up again and retest 13,000 in the next 2-3 days. There is resistance at 13,300 level.

Nasdaq Futures Analysis– 10Mar2021

Nasdaq futures (NQ) have made a strong double bottom on the momentum indicator (CCI) on the daily chart, and this makes it a very reliable setup for upmove. Therefore, we should be long on Nasdaq futures above 12,500 and more longs can be added on a closing above 10 day moving avg of 12,780. We can stay long for target 13,250 with 12,500 as the stop loss. The Nasdaq futures have a resistance at 13,300 and above 13,400 we can add fresh longs for target 13,800.