S&P and NQ Futures Hold Support Ahead of NVDA Earnings​

Morning Express

/ by Blue Line Futures

S&P and NQ Futures Hold Support Ahead of NVDA Earnings

 

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E-mini S&P (September) / E-mini NQ (September)

S&P, yesterday’s close: Settle at 6482.50, up 27.00

NQ, yesterday’s close: Settled at 23,591.50, up 93.25

E-mini S&P and E-mini NQ futures finished strongly yesterday, shaking off the overnight slip on President Trump’s firing of Fed Governor Cook. Industrial, with an emphasis on aerospace and defense, financials, and LLY, were leaders, along with the AI trade from NVDA, AVGO, AMD, and PLTR. Fed Governor Cook is expected to file a lawsuit today, but the focus will shift to the AI trade, with a pivotal earnings report due from NVDA after the bell.

The E-mini S&P held major three-star support at 6427.50-6432.50 and the E-mini NQ at 23,329-23,370 overnight ahead of yesterday’s session, and this will create a line in the sand, maybe not during today’s session, but in the aftermath of NVDA’s earnings. Resistance overhead is well-defined through price action from August 13 to 15, as well as last Friday, and is detailed below. Although I do believe the rally has overcooked a bit and a hearty, yet healthy pullback would is due and would ultimately set up for a strong Q4, a close above these resistance levels today, in the aftermath of NVDA, and confirmed on the week will pave the way for the next bull leg. As today’s session gets underway, our momentum indicators are rising to catch up with yesterday’s strong close and align as first key support for the E-mini S&P and E-mini NQ at…

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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Blue Line Futures employees use only firm-authorized email addresses and phone numbers. If you are contacted by any person and want to confirm your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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