NQ Follow-Up: Rally Confirms the Breakout Above 30,640
NQ has confirmed its breakout, and we are closing in on the all-time high. Yesterday’s session, 21 September, rallied 2.90% and has already broken above the resistance at 30,640. Now, bulls are looking for a continuation and not a stall, as ATH sits only 2% away.
30,640 is now the first level to watch on a pullback. A successful retest would strengthen the continuation setup. A successfull hold of that level could give bulls a strong entry confirmation, that is if we dont just see the price continue rallying without a small retracement.
Take advantage of the rally in NQ today!
For traders who missed the rally, a higher low around 30,640 would offer a clearer place to assess an entry and put a stop beneath the retest low. A daily close back below that level would weaken the breakout, especially if price also returns beneath the channel boundary around 30,475. It is possible that we see a consolidation period for a few days or weeks but it is a concern if that happens because bulls would treat it as a market that does not have enough strength to test the ATH yet and thus unwind their positions.
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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.
