Nasdaq Futures Slide 1.8% After Historic Rally as Traders Await CPI Data
Key Highlights:
After one of the strongest one-day gains in years, the Nasdaq futures today are showing signs of fatigue, sliding by 1.80% in early U.S. trading hours. The E-mini Nasdaq-100 Futures (NQ), a proxy for tech stock sentiment, are now trading at 18,942.25, down 346 points from the previous session’s close.
This pullback appears to be a technical reset ahead of the critical U.S. CPI data release scheduled later today, which could influence Fed policy sentiment and the tech-heavy index’s momentum.
Nasdaq-100 Futures Snapshot – 10 April 2025 (5:47 AM ET)
| Metric | Value |
|---|---|
| Current Price | 18,942.25 |
| Change | -346.50 (-1.80%) |
| Previous Close | 19,288.75 |
| Open | 19,266.75 |
| High | 19,383.50 |
| Low | 18,703.50 |
| Volume | 1,43,783 |
| Open Interest | 2,43,690 |
Why Nasdaq Futures Are Sliding Today
- Overbought conditions after a historic Nasdaq rally (+12.16% on 9 April)
- Traders locking in profits ahead of key CPI data
- Renewed uncertainty around Fed’s policy path
- Rotation back into value and defensive sectors
- Slight uptick in U.S. 10-year Treasury yields
CPI Data: The Key Market Catalyst Today
Today’s March CPI report (due at 8:30 AM ET) could make or break the tech rally. Here’s what traders are watching:
| Metric | Forecast | Risk Impact |
|---|---|---|
| Headline CPI YoY | 3.4% | >3.5% = Bearish for Nasdaq |
| Core CPI YoY | 3.7% | <3.6% = Bullish follow-through |
A hotter-than-expected reading may spook bond markets and trigger a deeper selloff, while a softer number could revive buy-the-dip strategies.
Key Technical Levels – Nasdaq-100 Futures
| Level Type | Value |
|---|---|
| Support Zone 1 | 18,800 |
| Support Zone 2 | 18,600 |
| Immediate Resistance | 19,300 |
| Breakout Target | 19,700 |
If support at 18,800 holds, bulls may regroup for another upside attempt post-CPI. A breakdown below 18,600, however, would confirm a deeper corrective wave.
What Traders Should Do Today
Scalp Traders
- Be cautious around 8:30 AM ET – volatility will spike
- Use tight stops and watch Nasdaq ETFs (QQQ) for confirmation
- Consider short-term trades only if VIX remains under 16
Swing Traders
- Watch for re-entry setups post-CPI
- Avoid large leverage today unless CPI is a clear miss
- Focus on semiconductors, cloud, and AI stocks with earnings momentum
Long-Term Investors
- Hold core tech positions
- Consider adding to high-quality names if CPI triggers panic selloff
- Don’t chase—buy near technical support levels
Expert Take
“The Nasdaq rally was overextended on sentiment alone. Futures correcting ahead of CPI is a healthy signal. If inflation is soft, this dip will be aggressively bought,” said Carla Rodriguez, Senior Market Strategist at BofA Securities.
Nasdaq Futures Today Hit Pause, Await CPI Signal
After a meteoric rally, the Nasdaq futures today are consolidating with a healthy dip, down 346 points (1.80%). Traders are in wait-and-watch mode as the CPI data will dictate whether the recent momentum holds or breaks.
The next few hours could be the most decisive for the week—and the next leg of Nasdaq’s trend may unfold before today’s close.
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