Market Overview: NASDAQ 100 E-mini Futures
The NASDAQ E-mini futures week is a bear bar reversing 1-05 bull bar.
The weekly and daily chart is at the apex of a triangle in a continued sideways breakout mode pattern.
The monthly chart is a doji bull inside bar, which again reinforces the breakout mode pattern.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a bear bar with a tail below, reversing the bull bar of last week.
- As last week’s report said, last week’s bull bar was not a good buy because it is in the middle of a trading range and not at any support.
- This week is not a good sell because of the tail below, which could signify that bears who sold the close of two weeks ago, and disappointed by the bull bar last week, bought back their shorts around the close of two weeks ago, creating the tail this week.
- Bulls need to create a good buy signal bar at the exponential moving average (EMA). Bears need a big bear bar closing far below the EMA.
The Daily NASDAQ chart
- The daily chart continues the sideways move around the daily EMA.
- While bears cannot break strongly below the EMA, bulls are unable to break above as well, resulting in trading range price action days – doji bars, bars with tails etc.
- As is evident from the chart, bulls need a series of bull bars from the EMA, while bears need a series of bear bars closing below EMA. What is in the bull’s favor is the weekly EMA below, which will likely act as support.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
