NQ (Nasdaq-100 Futures) Monthly Low: Will 27,536.25 Hold?E-mini Nasdaq-100 FuturesCME_MINI:NQ1!DanelFadejevWill NQ (Nasdaq-100 Futures) Hold Its Monthly Low After the Semiconductor Selloff? NQ Monthly Low: 27,536.25 Technical POV NQ (Nasdaq-100 Futures) is trading strongly into the monthly low at 27,536.25 — a key historical technical reference point. If price closes this month below this level, we could see a longer-term shift lower. If price closes higher this week, there is still the possibility that this is the beginning of manipulation and liquidity cleanup below 27,536.25 in August price action, followed by a shift higher. This is typical price action for NQ. Fundamental POV After today’s chip selloff, IREN, Micron, SanDisk, AMD, Intel, Dell and Seagate all fell in price. Investors are worried that big technology companies may be spending too much money on AI data centres and chips. They are also worried about the cost of funding that build-out, without a clear answer on whether that spending will make enough money back. Fear is now on the fundamental side of the market. Chinese players are also increasing competition in chip production. Yet we need to look into the technical indications now. This is key to seeing whether price confirms this fundamental angle or rejects it. Weekly Range POV The key here is that it is a waiting game. We need to verify whether price creates a daily or weekly fractal structure for continuation higher, if we get this far. Price is currently trading within a weekly range, with a low of 22,961 and a high of 30,968, and from a technical perspective, it appears fairly well priced. The midpoint of this range is 26,968, sitting just below the monthly candle’s low and forming a significant directional confluence zone, although there is no guarantee that price will trade into it. August and September Price Action What we need to see in August or September is strong volume pushing price out of this mid-range zone in either direction. August is typically a low-volume month, so we will have to see how the market develops. The key point is to wait for a fractal formation on the higher time frame and determine whether price can move higher; for now, it is still trending lower. Trading Plan We cannot engage blindly based on a hunch or an unconfirmed idea, as doing so can lead to disastrous outcomes. The best approach is to keep alerts in place, remain patient and observe how the price action unfolds. core5dan