E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – In Position to Set Another Record High

December E-mini NASDAQ-100 Index futures are trading higher shortly before the cash market opening on Thursday. The technology-based index is also hovering just below its all-time high that was reached the previous session.

The market could get a boost throughout the session ahead of big earnings news from tech giants Amazon and Apple after the closing bell.

At 12:59 GMT, December E-mini NASDAQ-100 Index futures are at 15660.50, up 73.25 or +0.47%.

Daily Swing Chart Technical Analysis

The main trend is up according to the daily swing chart. A trade through 15717.50 will signal a resumption of the uptrend. A move through 15273.75 will change the main trend to down.

The minor range is 15273.75 to 15717.50. Its 50% level at 15495.50 is support. This level will move up as the index moves higher.

The short-term range is 14585.50 to 15717.50. If the main trend changes to down then look for a break into its pivot at 15151.50. This is followed by a retracement zone and value area at 15042.50 to 14883.25.

Daily Swing Chart Technical Forecast

The direction of the December E-mini NASDAQ-100 Index on Thursday is likely to be determined by trader reaction to 15587.25.

Bullish Scenario

A sustained move over 15587.25 will indicate the presence of buyers. If this move creates enough upside momentum then look for a surge into 15717.50. Overtaking this level will mean the buying is getting stronger. This could trigger an acceleration to the upside since there is no resistance.

Bearish Scenario

A sustained move under 15587.25 will signal the presence of sellers. The first downside target is the pivot at 15495.50.

A trade through 15495.50 will indicate the selling pressure is getting stronger. This could trigger an acceleration to the downside with 15273.75 the next likely target.