Premium Nails 260 Points in the NQ
Our Premium analysis nailed the 260-point round trip move in the E-Mini NASDAQ 100 futures during the first full week of 2015. Here’s how it went down…
Our Premium analysis nailed the 260-point round trip move in the E-Mini NASDAQ 100 futures during the first full week of 2015. Here’s how it went down…
Frank Ochoa, aka PivotBoss, takes you through his early market outlook for 2015, providing analysis for the E-Mini S&P 500, E-Mini NASDAQ 100, and Crude Oil. We also announce our new 2-Week Trial Offer for PivotBoss Premium!
I wrote about the E-Mini NASDAQ 100 futures [CME: NQH15] two weeks ago in my PivotBoss Commentary and offered the following analysis: “NQ bulls may have their first real shot at defending a key level, as prices are quickly approaching the 4114.25 price.”
NQ bears failed to keep prices below 4184 (the previous week’s low price), which sparked an aggressive short squeeze into 4270. Bulls want to defend a pullback to 4184 for a shot at 4315.50 and 4440. Failure to hold above 4184 opens the door to another wave of weakness.
Despite the recent run of weakness, the NQ remains within a major bull market, and pullbacks of this magnitude start becoming buying opportunities for new highs down the road. The first major buying opportunity could be seen very soon, but more selling pressure will likely be seen first.