NASDAQ 100 Index Futures forecast for the week of December 3, 2012, Technical Analysis

The NASDAQ 100 futures rose again during this week as we continue to press up against the 2700 level. This level looks to be fairly significant resistance; we see the real fight of the 2800. Because of this, a move above 2700 will have us buying this market in significant quantity as we continue to grind higher and higher. As for selling is concerned, a break below the 2500 level would be catastrophic for the buyers and send this market much lower in our opinion. Until we get a breakout of one of these levels, there is very little to do in the NASDAQ 100 from a long-term trader’s perspective.