Market Overview: NASDAQ 100 E-mini Futures
The NASDAQ E-mini futures April 2026 is a big bull breakout of EMA – exponential moving average. It is possibly the biggest bull bar ever.
The week is a smaller bull bar compared to the bull bars of the past four weeks. This week makes it a 4-bar bull microchannel.
The quarterly bar is also big already (see inset chart below). There are still two more months left in the quarter. Given that big bars usually don’t have good follow-through, it is unlikely for the May month to be another bull trend bar. If the quarterly bar does get bigger, then it is less likely for the next quarter to be a good follow-through bar.
What happens if the current quarter and next quarter are good bull bars – well, then there will likely be another leg up, similar to what happened when there was a good bull follow-through to the big Q2 2025 bar.
NASDAQ 100 E-mini futures
The Monthly NASDAQ chart
- The April monthly bar is a big bull bar breaking out of the EMA.
- As mentioned above, the bar is exceptionally big, which indicates strength of the bulls, but is climactic at the same time.
- Breakout of the EMA is usually one of the more reliable breakout patterns, but like all breakout patterns, it needs 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.
- Bulls would like to buy a pullback, possibly 50% of the breakout bar, but if the market is exceptionally strong, there may not be a 50% pullback.
- The fact that the month is so big is because on the lower timeframe – weekly, there was no pullback. Every week in the month is a bull trend bar. Anyone wanting to buy a pullback on the weekly chart was not able to.
- The prior monthly report talked about the close of Q4 2025 as a magnet, and seeing how the market behaves around that close. After the big bear bar of Q1 2026, there was likely to be profit taking at the Q4 2025 close, but the market at the time being is far above that magnet.
- It will be interesting to see if bulls can close the quarter far above the Q4 2025 close
The Weekly NASDAQ chart
- This week is another bull bar with small tails. The body is smaller than the past four-week bull trend bars.
- This week extends the bull micro-channel, where every week for the past 4 weeks has had its low above the prior week’s low.
- There is nothing new to report other than what was said in the prior week’s report.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
