Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is a small bull follow-through to 7-14 bull bar.
The daily chart continues its grind higher in what looks like a leg in trading range or what one may say is a small pullback bull-trend.
Next week is the last week of the month. The monthly bar is a non-climactic bull bar so far. Bulls want to close the month at its high, while bears want to add as big a tail at the top.
As mentioned before, the dichotomy is that the monthly chart is bullish with a pair of good bull bars above the monthly exponential moving average (EMA) in May and June, while the Q2 bar is really big, which makes it unlikely for the market to go far above the Q2 bar without pulling back.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a non-climactic bull follow-through to the bull bar of last week.
- Bears have not had much selling pressure.
The Daily NASDAQ chart
- The daily chart started the week as a big bull bar with a tail on top, followed by big bear bar with a tail on the bottom.
- The rest of the week was the next leg up. Wednesday is a bull bar with a tail on top. Thursday a doji bear bar, and Friday a small bull bar, with a new all-time high close.
- As mentioned above, the move up looks like a bull leg in a trading range. At the same time, the pullbacks are one bar long. Bulls are buying the bear bars, and below bars, which are signs of what happens in a small pullback bull trend.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
