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

S&P, yesterday’s close: Settled at 6801.25, up 39.75

NQ, yesterday’s close: Settled at 25,331.00, up 291.75

E-mini S&P and E-mini NQ futures closed at another record high yesterday, and there seems to be nothing that can derail this bull train. Friday’s tail, nope, new highs Monday. Tuesday’s outside bearish reversal, nope, Semi-Snapback Wednesday. Yesterday’s move was driven by the largest names in the market, with NVDA, AVGO, AMD, and MU anchoring a +2.7% day in SMH, the Semiconductor ETF. AMZN, TSLA, CRWD, PANW, NFLX, and ORCL all had solid days, but there was not much else, as XLF and XLC were both down, and XLY was only +0.3% despite AMZN and TSLA making up 42% of that ETF.

E-mini S&P and E-mini NQ futures extended their range higher late yesterday, trading into respective resistance levels at 6807.50 and 25,330. Our Pivot and point of balance comes in at 6801.25 in the E-mini S&P and 24,295-25,330 in the E-mini NQ. Continued price action above these levels will point to our next areas of resistance at…

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