Feb 13 • General discussion
Pre-Market 2-13-26
The E-mini Nasdaq-100 futures (NQ) for the March 2026 contract are trading lower this morning as of around 8:15 AM EST on February 13, 2026. The current price stands at approximately 24,725.25, reflecting a decline of 42.75 points or -0.17% from the previous close of 24,768.00. Today's open was at 24,842.25, with a session high of 24,864.75 and a low of 24,624.00. Volume is building at around 120,000-130,000 contracts, showing decent pre-open interest amid data anticipation. Broader futures are muted to soft, with Nasdaq 100 E-minis down ~0.3% in early indications.
From a technical perspective, NQ exhibits a **Strong Sell** overall summary. Moving averages signal Strong Sell (0 Buy vs. 12 Sell), while technical indicators also lean heavily Sell (0-1 Buy, 0-1 Neutral, 7 Sell). Key indicators include an RSI(14) in neutral-to-sell territory, MACD with sell signals, ADX indicating moderate trend strength, and overbought conditions on some oscillators that could prompt short-term bounces but reinforce downside if supports fail. Pivot points for intraday trading feature a classic pivot near 24,750-24,780, with resistance at approximately 24,850-24,900 (R1/R2) and support at 24,650-24,600 (S1/S2). The bearish alignment from breakdowns below key averages suggests vulnerability, though today's high-impact data could override.
Market sentiment is cautious to bearish for Nasdaq futures, extending Thursday's AI-stoked selloff (Nasdaq Composite down ~2%, S&P 500 -1.6%) as worries over tech displacement and high AI capex ripple into software, finance, and related sectors. Broader indices are mixed-to-lower premarket (Dow/S&P futures down ~0.2%), with rotation out of growth into value persisting. Global cues are steady but risk-off, with focus on U.S. inflation for Fed clues amid resilient growth and tempered rate-cut bets (March hold now ~90% priced in).
Incorporating Fed speakers' announcements: Today features Federal Reserve Governor Stephen Miran speaking at 5:05 PM ET on "Regulations, the Supply Side, and Monetary Policy" (following recent comments downplaying inflation risks and advocating for cuts). This could provide late-session color on policy but is unlikely to dominate amid CPI focus.
Other red folder news (high-impact economic events):
- 8:30 AM ET: CPI (Jan) – YoY forecast +2.5% (prev +2.7%), MoM +0.3% (prev +0.3%); Core CPI YoY +2.6% (prev +2.6%), MoM +0.3% (prev +0.2%) – the key inflation read, with hotter-than-expected prints potentially reinforcing hawkish Fed views and pressuring tech/rates-sensitive assets.
Earnings continue premarket (e.g., ENB, MRNA, others), adding to volatility.
For futures trading, NQ looks biased toward sellers under the strong sell signals and event risks, with downside potential if CPI surprises hot—targeting breaks below today's low (24,624) toward supports near 24,650-24,600. Mild relief could emerge on soft data (boosting cut odds), allowing rebounds to resistances around 24,850-24,900, but overbought elements and AI fatigue favor caution. Volume will spike post-8:30 AM; with leverage and anticipation dynamics in play, employ tight stops and risk management—perhaps wait for post-CPI direction before committing.
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Pre-Market 2-13-26
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