Nasdaq Futures Analysis- 16Jun2022

Nasdaq Futures (NQ) are currently at 11,160 — down 4.8%. Its a fresh breakdown after yesterday’s brief rally. Nasdaq futures have now lost nearly 1900 points in the last 5 days. Nasdaq futures have been showing high volatility, and every single rally is getting sold at double selling force. None of the key resistance levels have been crossed in recent days, and new support levels are breaking. 11,000 is the long term support, but its difficult to say if that support will hold because the US Fed and global central banks have decided that steep interest rate hikes is the only solution to inflation, and they are willing to do it even at the expense of causing a recession the year end 2022.