Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
James Hyerczyk
E-mini NASDAQ-100 Index

December E-mini NASDAQ-100 Index futures are trading lower shortly after the mid-session on Friday. Technology shares once again failed to gain traction, setting up the index for a third straight weekly loss.

As far as the components are concerned, shares of Apple dropped more than 3%. Microsoft and Alphabet pulled back by more than 1% along with Amazon. Netflix slipped 0.5%. Facebook was flat.

Oracle, meanwhile, slipped 0.7% after the U.S. government said it will block all TikTok and WeChat downloads in the country on Sunday. Oracle is trying to take a minority stake in TikTok-parent ByteDance.

At 18:21 GMT, December E-mini NASDAQ-0100 Index futures are trading 10831.00, down 244.25 or -2.21%.

Daily December E-mini NASDAQ-100 Index

Daily Swing Chart Technical Analysis

The main trend is down according to the daily swing chart. It changed to down on Thursday when sellers took out the previous swing bottom at 10924.00. A trade through 11539.00 will change the main trend to up.

A series of 50% levels could produce choppy trading conditions over the near-term.

On the upside, potential resistance comes in at 10917.75 and 11088.00.

On the downside, potential support is layered at 10822.25, 10637.00, 10513.25 and 10428.75.


Short-Term Outlook

Trading between 11088.00 and 10428.75 could lead to a choppy, two-sided trade over the near-term.

The trigger point for a potential acceleration to the upside is 11088.00.

On the downside, taking out 10428.75 could trigger an acceleration to the downside.

Side Notes

Tech and momentum stocks are under pressure and could face even more volatility as we near the close as options on individual stocks, ETFs and indexes expire Friday.

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

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.