Soft Nasdaq futures into a projection-meeting Fed
What happened
After Friday’s bounce, weekend AI-safety commentary and an OpenAI IPO delay pressured tech-heavy futures into Monday. Nasdaq-100 futures were roughly 1.2% lower in early dealing, with S&P 500 futures softer by about 0.6% and Dow futures off around 0.4%. Oil stayed firm, and traders are still pricing a high chance of a Fed hike on Wednesday.
What it means
A futures gap into an FOMC week is a stress test for crowded AI and semiconductor betas, not a rewrite of every weekly trend by itself. Names already in long weekly trends — including Micron (MU), Bloom Energy (BE), Seagate (STX), Dell (DELL), and Siemens Energy (ENR.DE) — do not need a fresh chase into the open or into Wednesday’s statement.
Chart and trend facts
Last completed weekly scan is Sunday 13 Sep. Those prints still show the same bullish weekly cluster above flip. There is no new cash close yet for Monday morning Zurich time.
What to do
Sit in cash unless you already hold a confirmed weekly trend. Do not invent a Monday entry from overnight futures alone with the Fed two sessions away.