NASDAQ 100 Futures Forecast December 18, 2012, Technical Analysis

The NASDAQ 100 Index had a positive session during the Monday trading hours, and as a result the futures market followed. We however are in a relatively significant consolidation area, and because of this we are not hyper to take any trades at the moment. However, we do have two very obvious levels that we can base future trade off of. The 2700 level is without a doubt resistive, and if we can close above that on the daily chart we are more than willing to start buying. Alternately, if we managed to break down below the 2600 level, we feel that this market will continue to the downside. Until then, we think this market is probably going to go sideways.