ELITE Tape | NQ Futures: Not One Green Day, Even as the Fed Hiked

If your NQ or MNQ account came out of this week in the green, you beat every ELITE account tracked in this data, because none of them did. Every ELITE trading session closed net negative this week, the first time that has happened across the history of this tracked data, and E-Mini NASDAQ-100 (NQ) Futures led every instrument in losses by a wide margin, in the same week the real NASDAQ-100 index gained ground in the market.

ETF is a futures prop firm for traders who want uncapped Live Elite payouts. Eight consecutive weeks of net-negative results in aggregate now sit behind this one, and this week adds a new distinction of its own: not one of five sessions closed in the green.

The Federal Reserve's rate decision landed midweek, its first hike since 2023, and the real market moved both down and up around it over the five days. ELITE accounts moved only one direction the entire time. Full detail on where the volume, profit, and loss went is below, along with what this week's contract rollover shows about how ELITE accounts adjusted.

Micro E-mini NASDAQ-100 (MNQ) led every instrument in trading volume among ELITE accounts by a wide margin, its usual spot at the top of the board, holding the #1 volume position every week since this data has been tracked. E-Mini NASDAQ-100 (NQ) held second, followed by Micro Gold (MGC) in third. Micro E-mini S&P 500 (MES), E-Mini S&P 500 (ES), and Gold (GC) rounded out the index and metals activity, while E-Mini Dow (YM), Micro Crude Oil (MCL), Micro E-mini Dow (MYM), and E-Mini Russell 2000 (RTY) closed out the top 10 most traded instruments.

MNQ and NQ together made up the clear majority of ELITE trading activity again this week, the same pair anchoring the top two volume spots for months. For traders sizing up which evaluation tier to start with, ETF's Cost to Get Funded Calculator breaks down what it actually costs to reach a funded account at each account size. For the full breakdown of instruments ELITE accounts can trade, see ETF's What Instruments Can I Trade guide, and for ticker symbols across contract families, the Forex and Futures Symbol Guide.

Micro Silver (SIL) led every instrument in profit this week, ahead of New Zealand Dollar (6N) in second and E-Micro Euro (M6E) in third. Euro FX (6E), Soybeans (ZS), Corn (ZC), Copper (HG), and Swiss Franc (6S) rounded out the profit list.

The profit column stayed thin across the board this week, with nothing from the Nasdaq, S&P, or Dow complex finishing anywhere on it, a continuation of a pattern that has now held for several weeks running.

E-Mini NASDAQ-100 (NQ) led every instrument in losses this week, by a wide margin, more than double the next-closest instrument. Micro E-mini NASDAQ-100 (MNQ) held second, followed by Gold (GC) in third. Micro Gold (MGC), E-Mini S&P 500 (ES), Silver (SI), Nikkei/USD (NKD), E-Mini Dow (YM), Micro E-mini S&P 500 (MES), and Crude Oil (CL) rounded out the top 10 loss instruments.

NQ's spot atop the loss column landed the same week the real NASDAQ-100 index it tracks gained ground, a contrast worth naming and not a cause, since ELITE's results reflect ELITE accounts' own position P/L, not the index itself. MNQ and NQ moved together in the loss column again this week, the same pairing that has anchored the top two volume spots for months.

Wondering how your own account would have handled a week like this? Browse available evaluations and find the account size that lets you find out without risking real capital.

Monday opened the week already under pressure in the real market, and ELITE accounts posted their heaviest loss of the week that same session.

• Mon 9/14: Relative volume 2nd highest of the week - Net Loss (Heaviest)
• Tue 9/15: Relative volume middle of the week - Net Loss (4th Heaviest)
• Wed 9/16: Relative volume 2nd lowest of the week - Net Loss (3rd Heaviest)
• Thu 9/17: Relative volume lowest of the week - Net Loss (Lightest)
• Fri 9/18: Relative volume highest of the week - Net Loss (2nd Heaviest)

Public market reporting shows Monday's session fell under pressure as the 10-year Treasury yield climbed to its highest level since 2023, with the Dow, S&P 500, and Nasdaq all closing lower. The Federal Reserve's two-day policy meeting opened Tuesday, and stocks fell again as traders positioned ahead of the decision. Wednesday brought the outcome: the Fed raised its benchmark rate 25 basis points, its first increase since 2023, and signaled at least one more hike was likely before year-end, pulling major averages lower again that day. Thursday, US markets staged a comeback from that selloff. Friday closed the week a touch higher for the S&P 500 and Nasdaq even as the Dow slipped, with the 10-year yield finishing the week above 5% for the first time since 2023 and the Nasdaq ending the week up roughly 2.6%. ELITE accounts closed lower in all five of those sessions, on the days the real market fell and on the days it rose. None of this is presented as a cause of ELITE accounts' results, only as verified market context for the same calendar days.

Friday carried the week's heaviest trading volume among ELITE accounts, the same session that delivered the week's second-heaviest loss. Monday's volume ran a close second, the same session that delivered the week's single heaviest loss. Thursday carried the lightest volume of the week, and also the lightest loss, the only session where both measures landed in the same place.

This week also carried the quarterly contract rollover for the NASDAQ, S&P, Dow, and Russell futures complex, with the September contracts giving way to December as the new front month. ELITE accounts made the shift early: Monday's volume still ran mostly through the September contracts, but by Tuesday the balance had flipped decisively to December, and by midweek the September contracts had all but disappeared from ELITE trading activity. Friday's heaviest volume of the week reflects an already-completed rollover, not new contracts still being adopted.

Streaks and frequency data we're watching:

• NQ (E-Mini NASDAQ-100): a top-10 loss instrument every single week since we've been tracking this data, 30 weeks running. This is the fourth week in a row this has been flagged (27, then 28, then 29, now 30), well past the standing 24-week check-in threshold, with no decision made yet on how or whether to treat it as its own story.
• MNQ (Micro E-mini NASDAQ-100): the #1 volume instrument every week over that same span, also unbroken since tracking began.
• Micro Gold (MGC): a top-10 loss instrument for an 11th straight week.
• E-Mini S&P 500 (ES): a top-10 loss instrument for an 8th straight week.
• Crude Oil (CL): a top-10 loss instrument for a 3rd straight week.
• Copper (HG): a top-10 profit performer for a 3rd straight week, one of the only instruments building any streak on that side of the ledger right now.

ELITE accounts are sim-funded. The trading activity in these recaps reflects position P/L in sim accounts, not Live Elite payouts. Traders reach an Elite Sim-Funded account either by passing an evaluation or by purchasing Direct to Funding (DTF), which skips the evaluation step, and those who do well may progress to Live Elite, where payouts use real capital and there is no cap.

For a full explanation of how payouts work at each stage, see How Prop Firm Payouts Work: Sim vs Live vs Guaranteed. Last week's recap covered Gold overtaking NQ for the week's single biggest loss, Gold Futures: NQ Wasn't the Biggest Loser, and the week before that covered the real market's worst day landing on ELITE's best, Micro Gold Futures: The Market's Worst Day Was ELITE's Best.

ETF is a futures prop firm for traders who want uncapped Live Elite payouts, built on evaluation paths and account options for every stage of that journey. Evaluations are available for every account size, including the Static Evaluation for traders who prefer a fixed drawdown level that doesn't trail their gains. Real trader results, community feedback, and program details are available through ETF's testimonials, rewards program, affiliate program, and trading competitions.

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