Watch the following 60 second video to see a quick technical analysis snapshot of Nasdaq futures, based on simple daily candles, volume and one of the most watched technical indicators. In short, Nasdaq is looking bullish as buying volume dominates the double bottom pattern and the daily candles are above the 20 EMA (exponential moving average).
Swing traders or long term buyers should be careful and probably abort the bullish premise, if 2 consecutive daily candles close below the daily 20 EMA.
In short, bulls are looking better than bears at this spot, as Nasdaq futures (NQ) is around 11735.
I usually do not post price charts of such low time frames, like the 5 minute below, but future intraday traders, who possibly seek additional guidance, can have a look at the regression channel below, which is also a potential bull flag (and can consider entering a Long at the possible breakout up of the bull flag, at apx. X marked below), as well as watch the purple line above it, which is yesterday’s close.
Visit ForexLive.com technical analysis for additional views. The below chart is provided by TradingView, where you can view additional technical analysis ideas on the Nasdaq index (NDX). Always trade at your own risk.