NASDAQ 100 Index Futures Forecast November 7, 2012, Technical Analysis

The NASDAQ futures rose drastically during the session on Tuesday as the 2600 level continues offer a buffer for the buyers to get involved. It appears that we are currently consolidating between 2620 700, and as such we think that short-term range bound trading will be the way to go in the near-term.

It cannot be ignored that the US Presidential elections were during the session, and as such we could have a breakout. If that happens, it is quite simple: we will follow whichever direction the market goes. A breakout to the upside has as buying, why breakout to the downside has a selling aggressively.

 

NASDAQ 100 Index Futures Forecast November 7, 2012, Technical Analysis
NASDAQ 100 Index Futures Forecast November 7, 2012, Technical Analysis

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