Nasdaq Futures (NQ) closed at 19,174 on Friday, 26 July 2024. As described in the above chart, Nasdaq Futures are currently in the oversold zone as per our favorite momentum indicator (CCI).

This correction is not over yet, though momentum is trying to recover, which is a positive sign. We may even see 18,500 level before final recovery, and Traders have to be ready for that. The entire zone below 19K is good for buying.

Overall, once this correction is over, we are seeing Nasdaq Futures (NQ) going back to 20K level, and 20,500 is also visible. So Traders must go long once the recovery is place, which will be clear above 19,500 level.