Nasdaq 100 Futures Clear Path Towards New All Time Highs
EdgeClear | Jun 26, 2025 12:09PM ET
What Has the Market Done?
Despite uncertainty, geopolitical risks, and a bleak global economic outlook, markets have not sold off and have been moving higher since the April 6th, 2025 Low. Usually, analysts are looking for reasons to justify price action and paint the narrative. However, this time with all the reasons being present, markets did not sell off, the reasons simply did not matter.
What Is It Trying To Do?
Markets consolidated higher after the May 11th gap-up. June Open price held support over the weekend and since then it has broken out of consolidation.
How Good of a Job Is It Doing?
There is volatility and acceptance at higher prices. Yearly Volume Point of Control is at 22041. The Yearly Value area high just sits above at 22692. Prior all-time highs are at 22873.25.
What Is More Likely to Happen From Here?
Key Levels:
- yVAH: 22692
Resistance Zone: 22650 - 22670
- pHi: 22548.25
- pClose: 22472.75
- pIB Low (Support): 22462.75
Key Support: 22384.50
- yVPOC: 22041
22384.50 is our Key support and Line in the Sand.
Looking at lower time frames to analyze intraday price action, most overnight volume occurred above the prior close. We are also approaching the end of the month and the end of quarter two.
Scenario 1: Open In Prior Range, Open Drive Lower
In this scenario, we expect an initial push lower to close the session gap. If the prior day’s high fails to hold support, a move lower towards full session VWAP (Volume Weighted Average Price) and prior settlement is expected.
Scenario 2: Open In Prior Range, Open Auction Inside Range
In this scenario, we expect two-way price action in the first 10 minutes. A break of opening range may provide initial opportunity for an Opening Range Break (ORB) trade. Wait for the first hour IB (initial balance) range to set in. Assess the direction based on the opening price, opening range (first 10 minutes) and IB range (first 60 minutes). Downside objectives are mentioned in scenario 1 and our upside objectives are the resistance zone and yVAH provided in key levels above.
Definitions:
- VAH: Value Area High
- pHi: Previous High
- pClose: Previous close
- VPOC: Volume Point of Control
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