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…
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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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…
The post Why We’re Playing the Waiting Game in NQ appeared first on Josh Daily Direction.
