Nasdaq March futures are currently trading within a set range, with prices hovering around key pivot points. Both daily and intraday movements show consolidation and rotation, lacking clear direction. On the daily chart, prices are above the central pivot at 25,405 after bouncing back from support at 25,051. Attention is on resistance levels, including 25,794 and 26,036. **Intraday Market Activity** Intraday movements reflect the daily trend. Prices initially fell to find support between 24,924 and 25,183. Momentum then pushed them back to the 25,514 pivot, indicating potential for further upward movement towards levels between 25,739 and 26,265. Important levels to watch are 25,405 as the central daily pivot and 25,514 for the intraday pivot. Daily reference zones range from 25,794 to 26,036 for upper levels and 25,051 for lower support. The market remains focused on these key price levels, with future movements depending on whether the market holds or breaks these points. This analysis serves as information only and reminds us that past performance does not guarantee future results. As of December 19, 2025, the Nasdaq is tightly coiled around the 25,405 pivot, showing little directional movement. Patience is crucial, as chasing small moves in this range carries low odds. The market is waiting for a significant event to trigger a breakout. This uncertainty reflects the broader economic context. The latest CPI data from November 2025 shows inflation steady at around 2.9%, leaving the Federal Reserve with little reason to suggest changes in policy. Their final meeting of the year confirmed this patient approach, with the dot plot indicating any potential rate cuts are not expected until mid-2026. **Market Internals and Strategies** This lack of urgency is also evident in market internals, with the CBOE Volatility Index (VIX) close to yearly lows around 13. Although the recent jobs report showed an impressive addition of 180,000 jobs last month, it wasn’t strong enough to break the current consolidation. This reinforces the market’s wait-and-see stance. For those trading derivatives, this calm environment may favor strategies that sell options premium, like iron condors or strangles at the 25,500 level. However, discipline is critical, and we should keep an eye out for sustained price acceptance above the 25,794 resistance or a significant drop below the 25,051 support. These levels mark the boundaries of the current range. Historically, low-volume holiday periods can lead to a “Santa Claus Rally,” but the current price constraints suggest that any rally may be limited. We observed a similar tight trading phase in the summer of 2024, which eventually led to a strong directional move. The key takeaway from that time was that waiting for the market to confirm its direction is often more profitable than trying to predict it. Create your live VT Markets account and start trading now.

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