Nasdaq Futures Analysis-01Sep2022

Nasdaq100 Futures (NQ) recovered fully from day lows by the end of the day, today. That’s a positive sign regarding the support at 12,000 level. Nasdaq Futures lost about 1700 points in the last 15 days since the recent market top on 16th August 2022.

Such intraday recovery by Nasdaq Futures with a “bullish hammer” candlestick pattern can give a rally of 500 to 1000 points, so we can expect a retest of 12,500 and 12,800 levels in the coming week. Strong resistance will come near 13,000 level. A retest of 12,000 level is also possible in the next 1-2 days before this recovery rally comes. Traders can stay long above 12,000 level for targets of 12,500 and 12,800. Thanks.

Following is the Nasdaq Futures daily chart for the last 6 months. The overall downtrend is clearly visible, and all rallies have a strong chance of getting sold off till we make new highs, which is far away. Minimum requirement is 13,800 for safety and more reliable long trades in Nasdaq Futures. Thanks.

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.