A key the trendline is being pressured as of this writing. The December (Z) contract daily chart of NQ futures depicts a 3-month falling trendline that intersects the previous 4 rejections going back to August. The critical point lies at 15,230, which is the exact price heading into the New York open 9:30 EST. This is the second consecutive day in which price-action has tested this key resistance and thus far today is threatening to breakout on a hourly (chart) basis. Thus, if the equity open is positive it will highlight a strong indication that the tech-heavy NQ futures is breaking out, which quickly open the 15.3 region that houses the 100-day MA & a key 50% retracement.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.