Market Overview: NASDAQ 100 E-mini Futures
The NASDAQ E-mini futures week is a 4CC bull trend bar and all-time high close – 4CC meaning 4th consecutive.
The daily chart started the channel phase this week after the spike last week – inside day, alternate bull/bear days, as well as a pullback day.
The monthly bar is the biggest bull trend bar possibly ever, breaking out of the monthly exponential moving average (EMA). It is bigger than April 2025, which was a doji bar, but the month so far has minimal tails.
Bulls need a good follow-through bar next month to confirm the breakout. As Al says, the best-looking bull bar late in a bull trend is likely an exhaustion bar rather than a gap bar.
There are four more days in the month. Bears want to add as much of a tail to the top of the month as possible. Bears are starting to get more sideways action on the daily chart, so at least two of the next four days may be bear bars.
NASDAQ 100 E-mini futures
The Weekly NASDAQ chart
- The week is a strong bull trend follow-through bar to last week, which was a breakout of the EMA. As a result, this week is a new high close.
- The market has not seen four weeks like this in a long time.
- The last time the market had similar 4CC bull trend bars was late 2021, and even then, the bars were not this big.
- This is climactic, and traders must be wary that the market could have a big up/big down and will have to trade small.
- Bulls will likely buy the first pullback/reversal, as well as 50% of the breakout of the last 4 weeks.
- If next month has a tail below, it will be because bulls bought a pullback.
- As mentioned in the summary, the monthly bar is the biggest bar in a long time, which means it’s less likely that bulls will want to buy above such a big monthly bar, and the market will have to pull back to the levels indicated above.
- One of the bull targets is the measured move (MM) of the bodies of this week and last week, i.e., the breakout and the follow-through bar, which is at 29900.50.
The Daily NASDAQ chart
- The daily chart started the channel phase this week, after last week’s bull micro-channel spike. It got some bear bars and a pullback.
- Monday is an inside bull bar, followed by a bear bar on Tuesday.
- Wednesday is a bull trend bar, followed by a bear bar on Thursday.
- Thursday went below Wednesday’s low and reversed.
- Friday is a big bull trend bar closing on its high.
- Bears have done the first task of preventing consecutive bull bars.
- However, bulls have bought all the bear bars. Bears could not even trigger below the bear bars.
- This coming week, bears need to trigger the bear sell signal bars and produce good entry bars.
- First off, they need Monday not to be a bull follow-through bar to Friday.
- What are some targets for the bears? One of them is the open bull body gap with the high close of 1-28 at 26367.75.
- If the market gets there, bulls will buy to keep the gap open.
- If Monday is a bear bar, and Tuesday is a good entry bar, bulls will likely buy the Tuesday close to prevent a third bear bar, and a leg up.
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