Using Weekly Charts for Market Perspective | Case Study NASDAQ Futures

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We’re heading into the final trading days of Q1 while markets continue to react to ongoing geopolitical uncertainty.

During periods like this—whether it’s a quarter transition, a fast-moving market, or a stretch that feels difficult to read—one of the most useful things you can do is step back and look at a higher timeframe.

In this case, I’m using NASDAQ futures as the example, but this is really about how to use a weekly chart to gather perspective and understand where the broader market sits.

How to Use Weekly Charts for Index Futures Broad Market Perspective

When things feel fast, volatile, or hard to read, the goal isn’t to react faster—it’s to step back and get organized. 

Here’s the process I walk through.

Switch to the continuous contract chart.

In the case of Nasdaq futures on TradeStation, that means using the @NQ symbol. This lets me see a longer history of price action, giving me a better sense of where the market has been and how the current move fits into that bigger picture. I share how far back to look at data in my Winning Price Action Playbook (page 26).

Mark the major turning points—one at a time

In this example I first zoom out and compress the data back to the March 2020 pandemic low.

From there, I begin marking the major turning points one at a time.

I’m not labeling every swing—I’m focusing on the extremes that define the move. Working forward, that includes the October 2022 low, the December 2024 high, the April 2025 low around the tariff announcements, and the October 2025 high. 

And this analysis of extreme levels is the first step to conducting meaningful longer-term market analysis, like I do using the calculator inside my Gann Trading Patterns System. 

Narrow your focus to the most recent meaningful range

Once those levels are marked, you can shift your focus.

Instead of reacting to everything on the chart, you can concentrate on the move between the most recent important low and the most recent important high. That becomes the working range for the current environment.

Evaluate the current move within that high/low range

Within that range, I look at the 50% retracement as a projected level and walk through how I plot that on the chart.

Compare projected levels with actual traded price

At the same time, I’m always comparing projected levels with actual traded price history.

If a level has already been traded and held as support or resistance, it deserves attention because it reflects real market participation. In this example, I point out how that projected level lines up with prior price action on the chart.

Identify potential resistance—not just support

Even in a down move, it helps to know where rallies may run into pressure.

On a weekly chart, last week’s high is worth tracking simply because it represents a full week of trading activity. I also look at the high that is shaping the current move and walk through how I’m identifying that on the chart.

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When you walk through this process, the market starts to feel more approachable. You’re working with a broader view of where price has been and where it may respond next.

If you’re finding value in this kind of chart breakdown and broader market perspective, go ahead and hit the like button on the video and watch the full walkthrough.

🚨 PS — Weekly Trading Show TOMORROW 🚨

Be sure to join me at Ticker Request Live for broadcast #12 on Tue Mar 31st at 4:30 PM ET! 

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