Why We’re Playing the Waiting Game in NQ

The Nasdaq 100 (NQ) futures market monthly time frame is in an up trend, with the market making higher highs and higher lows.

The market is currently at a low price and hitting a known level of support. 

However, we still need to see if this support level is going to hold through the end of the month.

So, today, let’s take a look at the daily time frame and see how things could play out from here!

The Nasdaq 100 Market Review

Here’s how the chart is setting up for the Nasdaq 100 futures market…

Nasdaq 100 (NQ) Futures Contract Price and Technical Analysis – Source: TradingView

The daily time frame is in a down trend, with the market making lower lows and lower highs.

The market has a down Fibonacci extension price point 9,480.75.

The market is still above the short term up trend line, so it will be a good idea to wait for the market to break and close below the short term up trend line before turning to the smaller time frames and looking for a selling idea.

The Bottom Line

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Keep on trading,

P.S. While the traditional tech market may be set for another leg down, my colleague and expert trader Ross Givens has been working on a different market…

Click here to get his research on an early-stage metaverse stock that could be one of the biggest tech millionaire-makers of the decade!

Josh Martinez

Josh Martinez

Josh Martinez is an elite Analyst who’s been actively trading the financial markets since 2011. He’s known as one the leading innovative traders in this industry due to his his cutting-edge strategies.

Josh first burst into the scene when he took an initial deposit investment of $500 and turned into over $39,000 in just under 2 years.
Josh’s trading articles have been featured in Your Trading Edge, The FX Street, Trader Planet, Forex Crunch, Trading Pub, and Equities.com.

In addition to trading, Joshua has also trained thousands of traders worldwide. His strategies and systems have helped others find success in the market

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