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Jun 19, 01:17 AM
Nasdaq 100 Futures Near 759 Target, 726 Low as Market Eyes 685 Test Post-FOMC Amid Thin Volume
Stocks
Business

Nasdaq 100 Futures Near 759 Target, 726 Low as Market Eyes 685 Test Post-FOMC Amid Thin Volume

Authors
  • HiddenPivots
  • Pauly@spz_trader
  • Doug Nash
3

The Nasdaq 100 futures ($NQ_F) have experienced notable volatility and volume fluctuations following the recent Federal Open Market Committee (FOMC) meeting. A key technical target of 759, representing 61% retracement of Friday's low, was identified and posted Tuesday evening as a post-FOMC downside projection. The market has approached the 726 level, the low of Sunday evening, which is expected to be tested in due course. Analysts suggest that the downward move may continue until the 685 level is tested, potentially after the options expiration (opex) period. Trading volumes during the extended selloff have been relatively low, indicating that the move is driven largely by stop orders rather than strong underlying demand. The market environment has been described as thin and driven by algorithmic trading, with volume pivots observed around 752, 759, and 762. Despite reaching near these targets, the market's direction remains unresolved until the 685 zone is tested. These technical levels and volume patterns were discussed during the Asian trading session and reaffirmed in subsequent analysis.

Written with ChatGPT (GPT-4).

Additional media

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