NASDAQ 100 Index Futures Forecast December 14, 2012, Technical Analysis

The NASDAQ 100 failed again at the 2700 level, and it looks like this market simply cannot get out of the range it is been stuck in for the last couple of weeks. This area has been rather consolidated before, so we have a very clear set of circumstances in which to get involved in the market.

On a break and daily close above the 2700 level, we think this would be significant enough to start buying this market aggressively. Alternately, we would be more than willing to start buying again if we see supportive action like a hammer or a long green candle closer to the 2620 level as we feel it is the start of a significant support zone down to the 2600 level.