Market Overview: NASDAQ 100 E-mini Futures
The NASDAQ E-mini futures May 2026 is strong follow-through to the possibly biggest bull breakout of EMA – exponential moving average. It is also the first time the market has closed above 30000.
The week is a good entry bar to the High 1 (H1) buy signal bar of last week.
The quarterly bar keeps getting bigger. Given that big bars usually don’t have good follow-through, it was unlikely for the May month to be another bull trend bar. In this case, an unlikely thing has happened. There is one more month left in the quarter.
At this point, given the size of the quarterly bar, it is less likely for next quarter to be a good follow-through bar. At a minimum, bulls will aim for a non-doji bull follow-through bar.
NASDAQ 100 E-mini futures
The Monthly NASDAQ chart
- The May monthly bar is a big bull follow-through bar to the last month bar that broke out of the EMA.
- This indicates the strength of the bulls, but at the same time is climactic.
- Breakout of the EMA is usually one of the more reliable breakout patterns, but like all breakout patterns, need a follow-through non-doji bull bar to increase the odds of the breakout succeeding.
- Big bars usually do not have good follow-through as the risk is big.
- In this case, the big April bar did get good follow-through.
- This means there should be a second leg up. Technically, bulls would buy the May close, knowing they can buy the first reversal and likely exit break-even. However, given two big bull bars, their risk is really big.
- There is also likely support at the close of last month, April. For the reasons mentioned above, there were likely sellers there who are now trapped. When the market gets there, they will become buyers.
The Weekly NASDAQ chart
- The week is a good enough entry bar to the High 1 (H1) bull buy signal bar last week.
- One of the bull targets mentioned in prior reports is the measured move (MM) of the bodies of the bar breaking out of the weekly EMA and the follow-through bar, which is at 29900.50.
- The market closed beyond this target this week.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
