E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – September 6, 2016 Forecast

September E-mini NASDAQ-100 Index futures are called slightly better based on the pre-market trade. The index is traded inside Friday’s wide range, suggesting investor indecision and impending volatility. Traders appear to be waiting for guidance before making their next move.

The main trend is down according to the daily swing chart. The trend will turn up on a trade through 4836.75. A move through 4749.50 will signal a resumption of the downtrend.

The short-term range is 4836.75 to 4749.50. Its 50% or pivot at 4793.00 is controlling the short-term direction of the index.

Based on the current price at 4799.50, the direction of the E-mini NASDAQ-100 Index will be determined by trader reaction to an uptrending angle at 4797.50 and the 50% level at 4793.00.

A sustained move over 4797.50 will indicate the presence of buyers. This could generate enough upside momentum to challenge the downtrending angle at 4816.75. This is the last major resistance angle before the 4836.75 main top.

Overtaking the uptrending angle at 4846.25 will put the index in a bullish position.

A sustained move under 4793.00 will signal the presence of sellers. The daily chart is open to the downside with the next target angle coming in at 4773.50. The last angle before the 4749.50 main bottom is at 4761.50.

Look for an upside bias on a sustained move over 4797.50 and a downside bias on a sustained move under 4793.00.