E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – July 29, 2016 Forecast

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Published: Jul 29, 2016, 11:22 UTC

September E-mini NASDAQ-100 Index futures are trading flat shortly before the regular session opening. Earlier in the session, the index tested the

September E-mini NASDAQ-100 Index futures are trading flat shortly before the regular session opening. Earlier in the session, the index tested the December 2, 2015 main top at 4734.75. This price is the trigger point for a breakout to the upside.

A sustained move under 4734.75 will indicate the buying is slowing or that sellers are arriving. The first downside target is an uptrending angle at 4710.25.

The angle at 4710.25 is the trigger point for an acceleration to the downside with the next targets coming in at 4637.75 and 4630.25.

Watch the price action and read the order flow at 4710.25 today.

Look for a strong upside bias on a sustained move over 4734.75 and a downside bias to develop on a sustained move under 4710.25.

About the Author

James Hyerczykauthor

James is a Florida-based technical analyst, market researcher, educator and trader with 35+ years of experience. He is an expert in the area of patterns, price and time analysis as it applies to futures, Forex, and stocks.