James Hyerczyk
Add to Bookmarks
E-mini NASDAQ-100 Index

June E-mini NASDAQ-100 Index futures are trading slightly lower on Monday in a surprisingly lackluster trade. Investors are showing little reaction to this weekend’s violent protests in the United States, retaliation by China or last month’s strong performance.

Perhaps investors are a little nervous with the index so close to its all-time high. Perhaps investors are questioning valuation with the index up over 30% from its March low even though the U.S. economy has fully-opened yet.

Know where the Market is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

At 14:38 GMT, June E-mini NASDAQ-100 Index futures are at 9568.50, up 8.25 or +0.09%.

In other news, NASDAQ Inc said it postponed Monday’s planned reopening of its PHLX options trading floor in Philadelphia, which had been closed because of the coronavirus pandemic, due to the demonstrations over the death of a black man, George Floyd, in police custody.

The most active stocks by dollar volume include Tesla, Apple and Microsoft.

Daily June E-mini NASDAQ-100 Index

Daily Swing Chart Technical Analysis

The main trend is up according to the daily swing chart, however, momentum is trending lower. A trade through 9604.00 will signal a resumption of the uptrend. The main trend will change to down on a move through the nearest swing bottom at 8847.00.

The minor trend is down. This is controlling the momentum. A trade through 9172.50 will reaffirm the downtrend. Taking out 9604.00 shifts momentum back to up.

The first minor range is 9604.00 to 9172.50. Its 50% level at 9388.25 is support.

The second minor range is 8847.00 to 9604.00. Its 50% level at 9225.50 is another support level.


Daily Swing Chart Technical Forecast

The early price action indicates 9388.25 is controlling the direction of the market today.

Bullish Scenario

A sustained move over 9388.25 will indicate the presence of buyers. If this move creates enough upside momentum then look for a breakout over 9604.00.

Bearish Scenario

A failure to hold 9388.25 will signal the presence of sellers. This could trigger a break into 9225.50, followed by the minor bottom at 9172.50.

For a look at all of today’s economic events, check out our economic calendar.
Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker