Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is a bull bar with small tails after bad sell signal bar.
The daily chart is sideways to up and has met the measured move targets shown on the daily charts.
It is halfway through the month, and the month is a small bull bar. As mentioned earlier, the dichotomy is that the monthly chart is bullish, with a pair of strong bull bars above the monthly exponential moving average (EMA) in May and June, while the Q2 bar is huge, making it unlikely for the market to move significantly above the Q2 bar without pulling back.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a non-climactic bull bar with small tails. Last week’s bearish doji bar, a bad sell signal, did not even get triggered this week.
- There are bull targets on the monthly chart, so likely traders are using bad sell bars on the weekly chart to buy.
The Daily NASDAQ chart
- The daily chart started the week as a big bull bar signifying a leg up, followed by a doji bar on Tuesday. Tuesday went above the first measured move target and pulled back.
- Wednesday went below Tuesday and reversed up signifying start of next leg up.
- Thursday is a good entry bar to Wednesday, going slightly above the next measured move target on the chart.
- Friday started above Thursday’s high and ended the day as a bear doji bar.
- If the measured move targets are meaningful, the market should pull back, possibly to the daily EMA.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
