Market Overview: NASDAQ 100 E-mini Futures
The NASDAQ E-mini futures week is a buy signal just below EMA – exponential moving average. The buy signal is a good bull bar, and would otherwise be a good buy signal bar, but it is just below the weekly EMA.
The daily chart is sideways, likely in a leg up to the daily and weekly EMA.
Next week is the last week of the month. Currently, the month is a bear bar with prominent tails. Bulls want next week to be a bull bar, minimally a doji bar, so there is still a big tail below on the monthly bar. Bears want to close the month as close to its low as possible.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a buy signal bar just below the EMA.
- Last week’s report said that bulls needed to avoid a bear trend bar this week, while bears needed the opposite.
- Bulls were able to create a good-sized bull bar, as a double bottom around the November low, and last week’s low.
- The only problem is the EMA right above.
- Bulls need a big bull bar closing far above the EMA, while bears will likely sell the EMA, and the high of this week to avoid this.
- The result is likely to be something that disappoints both, resulting in more sideways action.
The Daily NASDAQ chart
- Last week’s report said that, early this week, the market will likely get a second leg up.
- Monday is a trading holiday.
- Tuesday is a bear doji bar around Friday’s close. Wednesday is a big bull bar with a prominent tail above.
- Thursday is a bear inside bar reversing Tuesday, and Friday a bull outside bar reversing Wednesday.
- The market is essentially sideways for the week and has not yet reached the daily and weekly EMA, which are now pinched together.
- The market will likely make the EMAs, at which point it is worth seeing if enough sellers sell and can produce consecutive bear trend bars or whether the market continues the trading range, bounded by the EMAs above.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
