Nasdaq futures are staging an early bullish reversal after falling from the 30,340 area to just below 28,950, but buyers still need to reclaim 29,540-29,590 and then clear 29,745-29,815 to confirm the recovery. A sustained break below 29,370 would weaken the rebound, while acceptance below 29,200 would signal a broader failure.
Buyers mount a tactical recovery, not yet a trend change
Nasdaq futures have produced a meaningful buyer response after the market fell from the 30,340 area to just below 28,950. Short-term reference areas have been reclaimed and selling pressure has eased.
That is enough to call the move an early bullish reversal attempt. It is not enough to call it a completed bullish takeover, because Nasdaq futures reached nearly 29,815 on August 28 but finished closer to the lower end of the session's range, showing sellers remain active above 29,700. The current bias carries a prediction score of +4 out of +10, reflecting a tactical bullish edge rather than a confirmed trend change.
Volume profile puts the pivot near 29,450
The weekly volume profile shows the widest area of accepted trading, the point of control, sits near 29,450. Nasdaq futures are trading just above this pivot. Sustained acceptance above it would support another rotation toward the upper range boundary near 30,280. A weekly loss of the pivot would instead shift attention toward the lower boundary around 28,880.
The levels that decide the next move
Buyers first need to reclaim and hold 29,540-29,590, the first bullish threshold. From there, 29,745-29,815 stands as the decisive resistance zone that capped the latest rebound. A daily close above it, followed by continued trade above roughly 29,700, would open the path toward 30,000-30,150, then 30,200, then 30,340.
On the downside, a sustained break below 29,370 would erase much of the latest recovery and expose 29,280-29,315. A stronger bearish confirmation would come if futures accept below 29,200, making another test of 29,020-28,950 likely.
The most likely near-term path stays continued balance between roughly 29,200 and 29,800, with a mild bullish lean while support holds.
Source: Investinglive.com (RSS Breaking News Feed)
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