Nasdaq Trade Idea (Wed, July 9)

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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. Let’s dive in!

Nasdaq Analysis

The FOMC minutes dropped, and the Fed held rates steady at 4.25%-4.50% for the fourth meeting in a row. They’re staying cautious due to tariff uncertainties, even as inflation has cooled from its 2021-2022 highs.

For the NASDAQ, the key levels haven’t changed. We need to see the 0.618 fib at $22,780 and the 0.5 fib at $22,842 hold to keep the bullish structure intact. If these levels break, eyes shift to $22,751 (last week’s open) and $22,582 (last week’s low) as downside targets.

On the upside, the bulls need to break and hold above $23,102 (last week’s high) to open the path for further momentum.

I’m leaning bullish here, but I’m staying cautious post-FOMC. If NASDAQ can hold above the $22,780–$22,842 fib zone, there’s a clear path toward $23,102 and beyond. But if we lose these levels, I’ll be watching $22,751 and $22,582 for a potential bounce.

This is a market that can turn quickly on headlines, so protect your capital and let the price action confirm direction before sizing up. Trade the levels, not your bias.

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! 🐂