Nasdaq Futures Analysis- 12Jul2022

Nasdaq Futures (NQ) are at 11,884 and they are trying to take support at 10 day SMA, but the Momentum Indicator (CCI) is indicating weakness and selling pressure, so we should be read to see some more correction of 100-200 points. There is clear resistance at 12,150 level and the Nasdaq Futures have failed twice at that level in recent days.We have also seen strong support at 11,400 level multiple times in recent days. The Momentum Indicator (CCI) made a new high in recent days, even though price did not go up much, and that’s a positive, and we could see a rally in July to test 12,400 level, so we can take that as near term Nasdaq100 target.

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.