Nasdaq & ES Analysis (Fri, Oct 25)

Key Levels & Trade Setups You Need to Watch Today

Author

The Daily Trader
October 25, 2024

The daily trader

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Welcome to today’s edition of The Daily Trader! Get ready for another action-packed day in the market as we deliver a top-tier watchlist, expert trade ideas, and a complete market outlook to help you stay sharp. Whether you're a seasoned trader or just getting started, our insights and analysis will keep you informed and ahead of the curve.

FEATURED TRADE IDEAS

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Nasdaq Futures - $NQ

Yesterday was very choppy and didn’t get a clear move from buyers/sellers. TSLA is very strong up over 15% after earnings beat. This is a good sign for NQ however as you can see price action has been weak. Trade cautiously and use the analysis below to make educated trades.

Technical Analysis

  • Rejecting Weekly VWAP.

  • Look for a break above previous HOD to take buy positions.

  • Important levels to watch: $20,212, $20,261, $20,428, and $20,538.

nasdaq chart analysis

NQ - 1 Hour Chart

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S&P500 Futures - $ES

Yesterday was very choppy and didn’t get a clear move from buyers/sellers. I believe we could go either way tomorrow, use the analysis below to make educated trades and catch the trend for the day.

Technical Analysis

  • Previous support from Monday & Tuesday has turned into resistance.

  • Rejected the Fibonacci golden pocket - $5,867.

  • Look for a break above weekly VWAP to take buy positions.

  • Important levels to watch: $5,822, $5,830, $5,870.

es chart analysis

ES - 1 Hour Chart

Man Who Called Nvidia at $1.10 Says Buy This Now...

In 2004, one man called Nvidia before just about anyone knew it existed. Now, he says a new company could become the next to soar like Nvidia. The biggest tech firms are loading up on shares. Nvidia, Apple, Google, AMD, Intel, and Samsung are all invested in this company. It also signed a MAJOR deal with Apple to get its AI tech into the iPhone and iMac. And its tech is also found in products from Samsung and Google.

FINAL THOUGHTS

Today I have a neutral bias on the market. Given the current momentum, I believe there's strong potential for further upside movement. However, I would like us to clear previous day highs before taking buys.

Feel free to use this analysis and levels provided as confluence with your own trading strategy and apply it to your setups. Utilize the levels I’ve provided to identify potential entry points, and remember to manage risk appropriately in case of any unexpected reversals. Let’s stay patient and allow the market to present the right opportunities!

Fear and Greed Index
fear and greed index

Data from CNN

THANKS FOR READING

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We hope you enjoyed today’s analysis, packed with all the juicy insights you need to conquer the trading world! Stay tuned for more updates, analysis, and watchlists from The Daily Trader. Remember, the secret sauce to trading success is staying in the loop and making those savvy decisions. Thank you for being an awesome part of our community, and get ready for even more epic content coming your way soon. Until next time, trade on and stay awesome!