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Nasdaq-100 E-mini futures test 29,120 support as traders watch for direction

Forexlive said the setup turns bearish only if September 2026 NQ can stay below 29,115 after multiple failures to recover.

Reported · Written up by our desk · FX Futures

Nasdaq-100 E-mini futures are testing support near 29,120 after breaking the 29,295 to 29,300 area, with the contract meeting buyers around 29,115 to 29,125, according to a market note from Forexlive. The analysis frames the broader structure as still bearish, citing lower major highs and price trading below the prior support zone.

Forexlive said a recovery above 29,210 could extend toward 29,240 to 29,300, but that bearish continuation would require sustained trade below 29,115 followed by failed attempts to reclaim higher levels. The note also highlights that the 29,115 to 29,125 zone has been defended twice, making it a difficult area to chase an unconfirmed short.

In the latest sequence, the futures slipped through 29,115 to 29,125 twice before buyers pushed prices back up, including a marginal new low near 29,117 followed by a rebound toward about 29,192. Still, Forexlive cautioned that the rebound has not proven a bullish reversal because the prior rally to roughly 29,210 to 29,215 was nearly fully reversed.

Forexlive added that it rates the directional bias at about -4 on a scale from -10 to +10, indicating a moderate bearish lean rather than an automatic short signal. It also noted the analysis uses the September 2026 Nasdaq-100 E-mini contract, commonly called NQ, treating the developing bar cautiously and applying the levels as market-structure references across related products.

Latest closeNasdaq Comp. 26,729.16 ▼0.3%

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