FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
100,285,538Confirmed
2,149,461Deaths
72,294,863Recovered
Fetching Location Data…
Advertisement
Advertisement
James Hyerczyk
E-mini NASDAQ-100 Index

September E-mini NASDAQ-100 Index futures are soaring to a record high at the mid-session on Monday as data showing unexpected growth in the U.S. services sector last month and optimism over China’s revival helped investors look past a spike in new cases of COVID-19 at home.

The ISM’s non-manufacturing activity index jumped to 57.1 in June, almost returning to pre-pandemic levels, but a recent surge in COVID-19 cases in the United States has threatened the emergency recovery, according to Reuters.

Advertisement
Know where the Market is headed? Take advantage now with 

75% of retail CFD investors lose money

At 15:56 GMT, September E-mini NASDAQ-100 Index futures are trading 10609.00, up 253.25 or 2.45%.

During Asian hours, Chinese stocks surged 5% on ample liquidity, cheap funding and expectations of a faster and a better bounce-back in business activity than other major countries that are still battling the coronavirus crisis.

Among the individual shares, Tesla Inc surged 7.4%, building on a four-day rally, after JPMorgan bumped up its price target for the electric carmaker’s stock following its better-than-expected quarterly deliveries.

Daily September E-mini NASDAQ-100 Index

Daily Swing Chart Technical Analysis

The main trend is up according to the daily swing chart. This was confirmed early in the session on Monday when buyers took out Thursday’s high at 10422.25. The main trend will change to down on a move through the last main bottom at 9728.75.

Advertisement

Daily Swing Chart Technical Forecast

We’re at all-time highs so there is no resistance so don’t try to pick a top, you’re just feeding the bull anyway.

If you feel the need to short the market or if you’re looking for an excuse to book profits, then wait for a closing price reversal top and sell the confirmation. But you’re going to have to wait a long time today for this chart pattern because it won’t form unless there is a close under 10355.75.

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
IMPORTANT DISCLAIMERS
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.
RISK DISCLAIMER
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.
FOLLOW US