Introduction
The Nasdaq 100 E-mini Futures (NQ) have entered into a small consolidation after breaking above its previous ATH on Friday, the 24th of October. The previous ATH could now act as support if prices fall further, as that level also coincides with the pivot point at 25520.50. Lets take a closer look at the technicals and what they are telling us.
Nasdaq Technical Overview
On the daily chart, the Nasdaq has pulled back from the 26,300 area after failing to test the R1 pivot at 26,882.5. This small dip comes after a strong breakout above 25,520, which bulls will be trying to keep as a support level. The index is still well above the 50-day moving average (24,761.72), so the overall trend remains bullish despite the current pause.
If the pullback continues, the key level to watch is 25,500–25,300. This zone includes the pivot point at 25,520.5 and marks the top of October’s consolidation range (previous ATH). A drop below that could lead to a move toward the S1 pivot at 24,647.0, and possibly down to 24,000–24,200.
To regain momentum, buyers need to push the index back above 26,000–26,100. A breakout above 26,900 (R1) would likely confirm the next leg higher, with targets at R2 (27,761) and R3 (29,123).
Right now, the pullback looks like a normal pause, but the short-term outlook is neutral until buyers step back in or a deeper dip unfolds.
Key Technical Levels
| Type | Level | Description |
|---|---|---|
| Resistance 1 | 26,000–26,100 | Immediate resistance / breakout retest zone |
| Resistance 2 | 26,882.5 | R1 pivot / near-term ceiling |
| Resistance 3 | 27,761 | R2 pivot / extended bullish target |
| Support 1 | 25,520 | Pivot point / previous breakout zone |
| Support 2 | 24,761.7 | 50-day MA / trendline support |
| Support 3 | 24,647 | S1 pivot / October low support |
Nasdaq Probability Table (Next 2–3 Weeks)
| Scenario | Estimated Probability | Notes |
|---|---|---|
| Consolidation between 25,500–26,100 | 50% | Healthy pause after breakout. |
| Breakout above 26,900 → target 27,700+ | 35% | Requires renewed buying power. |
| Pullback toward 24,700–24,500 support | 15% |
Fundamentals
The Nasdaq’s recent pullback is mainly due to profit-taking and normal market behaviour. Strong tech earnings and a dovish Fed have boosted the index to new highs, but fresh trade tensions and mixed corporate outlooks have made investors more cautious.
Earnings season is still key. Investors are watching to see if big tech companies can keep up their strong results despite weaker consumer demand and higher costs. If earnings keep beating forecasts, the Nasdaq could bounce back quickly and make another run at the 26,900 breakout level.
Summary
The Nasdaq 100 Futures (NQ) are consolidating below recent highs after a sharp rally, so a short-term cooling phase is present. While momentum has softened, the index continues to trade well above major moving averages, and support near 25,500 remains firm.
As long as prices hold above 24,700, the medium-term outlook remains bullish, with a potential return of the uptrend toward 27,000+ once consolidation is complete.
This analysis is for educational and informational purposes only and does not constitute trading advice or a recommendation to buy or sell any futures contracts. Futures trading involves significant risk and may not be suitable for all investors. Always conduct your own research and consult with a licensed financial professional before making trading decisions.
