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Looking for Lower Prices in the Nasdaq 100

Technology stocks were the leaders for a long time until the market turned sour this year.

Fear of recession has impacted the technology-laden Nasdaq 100 Index futures contract (NQ) particularly hard.

But we are happy to look at some bearish trading ideas for the NQ, as there are certainly some downside profits to be made right now.

Keep reading below for my full time frame analysis for the Nasdaq 100 Index futures contract (NQ)…

 My Nasdaq 100 Index (NQ) Analysis

Here’s the chart for NQ and how I see it shaping up to provide some opportunities to sell over the coming days and weeks…

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

And here’s how the Nasdaq 100 Index is shaping up…

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

The market broke a counter trend line bearish and has a down Fibonacci price point of 9,156.75, about -9,554 ticks below the market. 

It will be a good idea to turn to the one hour time frame and to look for selling ideas in the sell zone.

The Bottom Line

There are multiple ways to trade the futures, stock and other markets. We can trade the indexes, both up and down in channels, as well as individual stocks. 

But one of the best ways is to trade alongside company insiders… These are the executives at major companies that know more about their own stocks than anyone else on Wall Street. 

To see how my colleague and equity expert Ross Givens does it, check out the link in the P.S. below…

For more on the markets as well as trading education and trading ideas like this one, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.

I’ll be bringing you more of my stock and futures contract trading tutorials as well as some additional trading ideas.

And if you know someone who’d love to make this a part of their daily trading routine, send them over to joshsdailydirection.com to get signed up!

Keep on trading,

P.S. Click here to register and reserve your seat for my upcoming Insider Effect presentation… You don’t want to miss this!

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