Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is an inside bear trend bar with a prominent tail below. It is part of sideways move likely for rest of April 2025.
The daily chart has bear days alternating with doji bull days.
The monthly bar is still a doji bear bar with a long tail below. As mentioned in last week’s report, the month (and quarter) is unlikely to get bigger as this is already the biggest month in the recent past. It is the size of the July and August 2024 months combined. So far, the market is meeting that expectation with one and half week left in the month.
Bears want to close the month as bearish as possible, minimally below the bar’s midpoint around 18250, and the bull body gap of December 2021 close at 18503. Bulls want the opposite. These should be magnets for the rest of the month.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is inside bear trend bar with a prominent tail below. It is a short week due to trading holiday on Friday.
- Last week’s report said that this week is likely to be a smaller bar, possibly an inside bar.
- This week’s bar met that expectation.
- The bear body gap with 09-03-24 is still open. Bears want to keep the gap open. If the gap stays open, one target for the bears is at 15995.75 – the measured move (MM) of the gap between the 09-03-24 close and the high close of week of 2-10.
- This is not an unreasonable target, given the recent low is 16460, not far from it. Though this is likely a few months away, as earlier sections have also said that this month/quarter is unlikely to get bigger.
The Daily NASDAQ chart
- The daily chart has bear days alternating with doji bull days.
- Monday is a bear bar, followed by inside doji bull bar on Tuesday.
- Wednesday is another bear bar, again followed by inside doji bar Thursday.
- The market is still in the upper half of the big bull bar from last Wednesday 4-9.
- If the market is transitioning into a trading range on the daily chart – alternating bull/bear bars, big bars with bad follow-through – doji bars, then this is high in the range for bulls to buy.
- So, it is likely bulls will wait for the market to get in the lower half of that big bull bar to buy.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
