NQ Analysis Archive

Sunday Globex open. NQ opened at 18,735, gapping up 15 points from Friday's close. Weekend headlines about potential AI regulation softening may be supporting tech futures. Asian tech indices (TWSE +0.6%) are slightly positive. However, Sunday overnight sessions are unreliable indicators of Monday's direction.

Weekend review. NQ lost 280 points from Tuesday's high to Friday's close -- a 1.5% weekly decline. The FOMC hawkish pivot was the catalyst. Technical damage is significant: NQ closed below both the 50-day and 100-day moving averages for the first time since January. Next week's Mag-7 earnings will determine if the selloff extends or reverses.

Quad-witching Friday with NQ still reeling from yesterday's FOMC selloff. Overnight session saw a test of 18,620 support that held by 8 points. The market is attempting a relief rally in pre-market, trading near 18,750. Options expiration at 18,800 and 19,000 strikes will create pin risk. Expect choppy, directionless action.

NQ dropped 180 points in 8 minutes after the FOMC hawkish surprise. The tech-heavy index was hit harder than ES due to rate sensitivity -- higher-for-longer rates compress growth stock valuations. NQ traded as low as 18,620 before a partial recovery to 18,720. The damage is significant: NQ is now below the 50-day and 100-day moving averages.

NQ bounced overnight from the 18,800 support level, now trading near 18,960. The bounce was driven by better-than-expected retail earnings after hours. The semiconductor weakness from Monday has stabilized. FOMC tomorrow is the key event -- tech stocks tend to be more sensitive to rate decisions due to duration exposure.

NQ is underperforming ES this morning as tech earnings concerns weigh on sentiment. The NQ/ES ratio has dropped to 3.48, down from 3.52 last week. Semiconductor stocks are leading the weakness after a bearish analyst note on chip inventory levels. NQ is testing the 18,880 support level.