📺 Watch the full video here:
It’s the last full trading week of 2025, and with the index futures now rolled to the March 2026 contracts, this felt like the right moment to step back and look at how price action and forecasts are lining up across the major indexes.
I’m walking through ES, NQ, and YM futures, focusing on how price is behaving around key support and resistance areas, how consolidation resolves, and how forecasts act as magnets — not guarantees — as we head into the holiday trading weeks.
🔍 Highlights
1️⃣ E-mini S&P 500 Futures (ESH26):
ES retraced roughly 50% of the advance from November 21 to December 10 and found support near that midpoint earlier this week. That area aligned with RSI Power Zones Bull Support and helped stabilize price. As of today, ES is pushing higher, and the ability to hold above the recent consolidation boundary will matter heading into the holiday period.
2️⃣ E-mini Nasdaq Futures (NQH26):
NQ pulled back more deeply than ES, retracing into the midpoint of the week ending November 21. Price reacted within a point of that level this week, which is notable precision on the weekly chart. Tech tends to exaggerate moves, so this deeper retracement isn’t surprising — but how price behaves around this weekly reference remains key.
3️⃣ E-mini Dow Futures (YMH26):
YM continues to show relative strength after posting new highs last week. The advance off the November 21 low is being reinforced by the December 11 low, keeping the uptrend intact for now. As long as price holds above that December 11 level, the Dow remains better supported than ES and NQ, even as short-term pullbacks develop.
One of the most important takeaways from this review is how each index futures contract can tell a different part of the macro environment story at the same time. ES is emerging from consolidation, Nasdaq is responding to deeper retracement levels, and the Dow continues to lead with stronger structure.
Understanding where each market sits within its own price, time, and momentum framework helps avoid forcing trades — especially during lower-liquidity holiday weeks.
If you found these price action and forecasting examples helpful, be sure to let me know by hitting the like button.
~Hima
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