Nasdaq Trade Idea (Tue, Dec 10)

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Welcome to today’s edition of The Daily Trader! In this post, we will give a detailed outlook on the Nasdaq to help you confidently navigate the market. Along with this setup, we’ll share key levels to watch and insights to keep you sharp in today’s session. Whether you’re an experienced trader or just getting started, our analysis is here to help you stay informed and ready to capitalize on every opportunity. Let’s dive in!

Nasdaq Futures - $NQ

With tomorrow’s CPI report on the horizon, Nasdaq traders should brace for potential volatility. The market remains in an uptrend, so my bias leans bullish, but CPI data will be the ultimate catalyst for the next big move.

Key Levels to Monitor

Previous Month’s High at $21,340

• Just below the Fibonacci level, this acts as an additional support area to watch.

$21,509 and $21,606 (Todays High)

• These levels represent key intraday resistance. A breakout above could signal strength and continuation in the uptrend.

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If the index holds the support levels near $21,340–$21,352, we could see bulls make an attempt to test and break above today’s high at $21,606. A decisive breakout above $21,606 may pave the way for a more substantial rally to ATH’s.

However, if CPI data brings a bearish surprise, breaking below these key support zones could shift momentum, putting the broader uptrend in jeopardy.

Bottom Line: Nasdaq is positioned at a pivotal moment ahead of tomorrow’s CPI report. Keep these levels in focus to anticipate the market's next move. The uptrend suggests bullish potential, but the reaction to CPI will set the tone.

Fear and Greed Index

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! 🐂