NASDAQ 100 Futures Forecast December 26, 2012, Technical Analysis

The NASDAQ 100 futures fell during the session on Monday as the shortened Christmas Eve session would’ve had low-volume and little interest by longer-term players. The market looks very sideways at the moment as we’ve been consolidating between the 2700 level and the 2600 level. We personally feel that 2600 should offer enough support to keep this consolidation going forward, unless of course the so-called “fiscal cliff” talks go poorly. In the meantime, we feel that a supportive candle somewhere just above the 2600 level would be a nice short-term buying opportunity.