Nasdaq Futures (/NQ) - Major Doji at Highs Signals Caution | 4H Micro E-mini Nasdaq-100 Index FuturesCME_MINI:MNQ1!JoveXColtThe U.S. economy remains the strongest in the world — the dollar’s relative strength against major currencies continues to reflect that dominance. However, the technical picture on Nasdaq futures is showing clear signs of exhaustion. Key Observations: • Major Doji Formation: Price printed a significant doji candle with a high of $29,610.50 and low of $29,448.25. This classic indecision pattern formed right near the recent swing highs. • Strong 4H EMA Support: The market successfully bounced off the 9 EMA (not the 10) on the 4-hour timeframe, showing buyers are still defending this dynamic support. • Resistance Zone Ahead: Upward momentum is facing heavy selling pressure at $29,620 – $29,640 – $29,660. Heikin-Ashi candles are clearly displaying increased sell volume during this uptick, suggesting distribution. Recent Price Action: • Monday’s high reached $29,693.50 before rejection. • A sharp ~2,800-tick drop unfolded in roughly 20 hours following the 1:00 PM ET turn on Monday — highlighting the extremely volatile environment. • Price has since stabilized near $29,580, roughly the body average of the current 4H candle (expiring shortly at 10:00 AM ET). Outlook: As long as we remain below the doji highs and the $29,620–$29,660 resistance cluster, the path of least resistance favors a pullback. I’m watching for a retest of the $29,538 – $29,540 – $29,575 – $29,600 zone. A clean defense of this area could set up another long opportunity, while a breakdown would open the door for deeper correction. This setup comes during the final days of Fed Chair Jerome Powell’s leadership — adding another layer of transitional uncertainty, though markets have largely priced in the upcoming change. Bottom Line: Bulls have EMA support for now, but the doji + sell volume at highs warrants caution. Waiting for confirmation on the next 4H close before committing directionally. What are your thoughts? Are you bullish on the dip or waiting for a break above $29,660 first? Let’s discuss below. 📊 TradingView analysis — always manage risk and trade responsibly.