#Nasdaq100 futures have played out the expected upmove, and hit their target of 7640 today (shared in the previous post on 13 June). They may face some resistance at this level. Next target is 7740 and 7770. Traders should take some profits at current level, reduce futures, and wait for next target. Stop loss 7540.
Nasdaq100 Support Level is at 7500.
S&P100 Support Level is at 2880.
#NDX, #NQ #SP500
Nasdaq100 Futures are currently at 7514, and they are creating a bullish set up again, though they are resisting at the 50 day SMA at 7537. The velocity or ferocity of this upmove has been impressive, and Nasdaq100 futures will most likely cross the 50 day SMA in the coming week. The reliable upside targets are 7630 and 7730. So there is 100-200 points upside visible from current price. Stop loss for all long positions should be 7400. The target for Nasdaq100 futures is 8000, which may come in the next 1-3 months.
