Traders remain cautious as Nasdaq futures hover near $28,980-$28,990 without breaching key resistance at $29,110.
Nasdaq futures are struggling to sustain a rebound, trading between $28,980 and $28,990 after a sharp pullback. Analysis indicates a neutral to mildly bearish outlook while the index remains below $29,110, a critical resistance level for bullish momentum.
Key support lies at $28,960, with stronger bearish confirmation below $28,858-$28,850. Bullish repair would require a break above $29,110, with confirmation at $29,150-$29,175. The current bounce lacks structural strength, keeping traders on alert for further downside pressure.
Market sentiment remains tense amid broader volatility, reinforcing caution among participants. Without a decisive move above resistance, the bias leans toward continued bearish control.