Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures October monthly Nasdaq Emini candlestick is a bear bar closing below September low with tails above and below.
The week is a big trend bull bar closing back above the exponential moving average (EMA) and essentially reversing the bear bars of the last two weeks.
The year is a big bull inside bar with a tail above. Bulls would like to close the year near the high, while bears want a big tail above.
NASDAQ 100 Emini futures
The Monthly NASDAQ chart
- The October month bar is a bear bar with a small body and a small tail below and a bigger tail above.
- This month closed below the September low, the first month to close below the low of the prior month since September 2022.
- Bulls did not want a third bar with a bear body and wanted a close above the low of September.
- Bears wanted a strong follow-through bar with a close below September.
- Bears also wanted the market to reach the May close.
- It is likely there were sellers at the May close betting on a failed breakout.
- The market got to the May close and bounced strongly this week.
- Bulls would like November to be a good bull bar closing above October, and December to be a follow-through bar.
- Bears will likely sell November close (assuming it’s a bull bar) for another leg down like what happened in August, September of 2022.
- It is likely the year will close around the July month bar.
The Weekly NASDAQ chart
- The week is strong bull trend bar closing near its high and back above the EMA.
- The week has essentially reversed the bear bars of the last two weeks.
- Last week’s report had mentioned that bulls would like a wedge bull flag reversal and needed a good reversal bar this week.
- Bulls now need a follow-through bar next week to trap the bears.
- Bears will likely sell this week’s close betting that such a big bull bar will not get follow-through.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.