E-mini S&P (September) / E-mini NQ (September)
S&P, yesterday’s close: Settled at 6248.75, down 5.00
NQ, yesterday’s close: Settled at 22,692.75, down 200.50
E-mini S&P futures finished close to unchanged while the E-mini NQ fell -0.9%. However, yesterday’s story was one of rotation as the E-mini Dow gained +0.9% and the E-mini Russell ripped for as much as 2% before settling +1%. Materials and Healthcare led, posting +2.6 and +1.4%, respectively, and the top three Dow components were UNH, AMGN, and SHW. We own AMGN (+4%) in our Blue Line Capital portfolio and love the name, but do not get caught up in the broad rotation noise. Yes, it could last a week, maybe a month amid market strength, or this was the reach on underperformance in the E-mini Russell that typical comes before a garden variety pullback, which we can all agree is overdue. Still, we strongly believe the largest and strongest stocks in the market will lead the second half of the year; NVDA, MSFT, AVGO, and yes, even AAPL.
Speaking of a healthy pullback, the July 9th tariff deadline is quickly approaching, and President Trump appears to be turning up the heat on Japan. On the other hand, the administration seems hopeful of a deal with India.
E-mini S&P futures continue to trade against rare major four-star resistance aligning with the September contract record high at 6278.75-6285. Although the E-mini NQ pulled back more than the E-mini S&P intraday, they both tested and perfectly held our first wave of major three-star support, at 22,600 and 6218-6223.75, respectively. These levels remain intact and will serve as a line in the sand of sorts; below this, the range expands. Given the ongoing buoyancy, it is our Pivot and point of balance through the first hour that we will be watching most closely; continued price action above or below these levels at…
Enjoyed the report? Unlock full technical breakdowns and our daily take on crude, metals, livestock, grains, and equities—sign up through the portal today and don’t miss a move.
Follow us on Twitter: @BlueLineFutures
Follow us on Facebook: Blue Line Futures Facebook page
Subscribe to our YouTube channel: Blue Line Futures YouTube channel
If you have any questions about markets, trading, or opening an account, please let us know!
You can email us at info@BlueLineFutures.com or call 312-278-0500
Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete, and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
—
Originally Posted on July 2, 2025 – Rotation or Reversal? Key Support Holds in S&P and NQ
Disclosure: Blue Line Futures
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. The information contained within is not to be construed as a recommendation of any investment product or service.
Disclosure: Interactive Brokers Third Party
Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from Blue Line Futures and is being posted with its permission. The views expressed in this material are solely those of the author and/or Blue Line Futures and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Disclosure: Futures Trading
Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at the Warnings and Disclosures section of your local Interactive Brokers website.
Join The Conversation
If you have a general question, it may already be covered in our FAQs page. go to: IBKR Ireland FAQs or IBKR U.K. FAQs. If you have an account-specific question or concern, please reach out to Client Services: IBKR Ireland or IBKR U.K..
Visit IBKR U.K. Open an IBKR U.K. Account