NASDAQ 100 E-Mini Futures Analysis (January 9, 2025)
Current NQ Market Overview
- Bearish Bias: Price is currently near 21,250, below the critical bearish threshold of 21,293. As long as price remains below this level, the bearish scenario is in control.
- Bullish Trigger: Bulls need to reclaim 21,293 minimum but moreso, 21,310 to shift the bias upward. Without this reclaim, bearish dominance persists.
Key Levels to Watch For Nasdaq Futures Today
Bullish Scenario for Nasdaq Futures
If 21,310 is reclaimed (less likley today):
Profit Targets for Nasdaq Bulls:
- 21,350: A moderate resistance zone and short-term profit target.
- 21,394: Yesterday's POC and the value area low from January 3rd.
- 21,450: POC of two days ago, providing a strong resistance target.
- Extended Targets in the Nasdaq Bullish Scenario:
- 21,531: Just below the VWAP of January 7th.
- 21,634: Just below the value area high of January 7th.
Strategy for Nasdaq Bulls:
- Partial profit-taking is recommended near each target to mitigate risk.
- Hold a runner position if price builds momentum above 21,450, targeting the extended targets mentioned above.
Bearish Scenario for Nasdaq Futues Today
If price remains below 21,293:
Profit Targets for Nasdaq Bears:
- 21,225: POC from December 3rd.
- 21,150: Near the value area low from January 2nd. A critical line in the sand for further bearish continuation.
- 21,000: Psychological round number and a potential liquidity target.
- Longer-Term Targets:
- 20,985: Just above the historic value area low from November 21st.
- 20,550: An extended swing target for runners.
Strategy for Nasdaq Bears:
- Gradual partial profit-taking as each target is reached.
- Leave 20% of your position as a runner for a potential swing trade toward lower targets.
Trading Tips
- Risk Management: Position size and partial profit exits are key. Avoid leaving full positions open in the face of potential reversals.
- Adaptability: Use this analysis as a guide but adjust based on your trading style (e.g., candle analysis, order flow, or fundamentals).
- Round Numbers and Key Levels: Levels ending in 50 or 00 often attract liquidity and act as price magnets.
Summary for Today's Nasdaq Futures Market
The market is leaning bearish, but there is always the potential for bullish reversals if the key trigger level for bulls (21,310) is reclaimed. Use the outlined levels as partial profit-taking zones and keep an eye on psychological round numbers. For longer-term trades, runners targeting levels like 20,985 and 20,550 may be a viable strategy depending on market momentum.
Trade at your own risk, and manage positions actively to avoid overexposure. Stay flexible and take profits along the way! Visit ForexLive.com for additional views.
