# NQ Notes from Recent High Frame Price Action — 7/16E-mini Nasdaq-100 Futures (Sep 2026)CME_MINI:NQU2026EthicalxTrader# NQ Notes from Recent High Frame Price Action — 7/16 ### Key Observations * NQ remains within a **higher timeframe bullish consolidation**, but today's selloff shifted short-term momentum back toward the bears after another rejection from the descending trendline. * Sellers pushed price directly into the rising trendline that has supported every higher low since mid-June, creating a major decision point heading into the overnight session. * **Current Price:** **29,179** * The overnight **7/17** session opens with price sitting at the apex of the consolidation, where rising trendline support and horizontal demand converge. --- ### Levels I'm Watching | Resistance | Support | | ----------------------------- | --------------------------------------- | | **29,265** – Initial reclaim | **29,129** – Key trend support | | **29,690** – Pivot resistance | **29,079** – Near-term support | | **29,797** – Range high | **28,958** – Last line before breakdown | **Above:** **29,955 → 30,090 → 30,172 → 30,357 → 30,695 → 30,826** **Below:** **28,816 → 28,653 → 28,090** --- ### Volume & Behavior * Selling pressure accelerated throughout the session, although buyers defended the first major support zone into the close. * Price is testing one of the most important technical areas of the past month, where rising trendline support intersects with horizontal demand. * Increased selling volume raises the importance of **29,129**. Losing that level would confirm a break in the higher-low structure. * Until support fails, the broader bullish consolidation remains intact despite weakening short-term momentum. --- ### Overall Read From My Notes NQ enters the overnight **7/17** session at a critical inflection point. A sustained hold above **29,129** followed by a reclaim of **29,265** would favor another rotation toward **29,690**, **29,797**, and **29,955**, with potential for an extension into **30,090–30,357** if buyers regain control. Conversely, a confirmed break below **29,129** would be the first meaningful violation of the month-long higher-low structure and likely shift focus toward **28,958**, **28,816**, and potentially **28,653** before stronger higher-timeframe buyers are expected to respond.