Sept. Mini NASDAQ futures ( symbol on most platforms is NQU3) are trading at 3070.00 at the time I am writing this analysis – July 16th 2013.
As a commodity futures broker, I am going to focus on the technical aspect of this market and provide my technical opinion, I think it is important to be aware of the fundamental aspects and the events coming up which can move the market either way. To start with, Traders are probably already looking forward to today’s testimony before Congress by Fed Chairman Ben Bernanke. The big question he will be asked is how does the FED plans on tapering down the massive injection of cash or what we know as QE. I think the reason the markets are down today is in anticipation of this testimony. Economic numbers will continue to pour in as well as a G20 meeting and earning season is in place.
