Market Overview: NASDAQ 100 E-mini Futures
The NASDAQ E-mini futures week is a bull trend bar and a good entry to last week’s buy signal bar. It is the first close above EMA since early February. The EMA is the 20-period exponential moving average.
The daily chart is exceptionally strong – all days were bull days, and 4-8 is an exceptionally big bull bar with good follow-through on 4-9.
The monthly bar is already big, and there are almost three weeks still left in the month. So, it is likely that at least one of the next three weeks will be a doji or bear bar.
NASDAQ 100 E-mini futures
The Weekly NASDAQ chart
- The week is a strong bull trend bar closing above the weekly EMA for the first time since early February.
- In doing so, the market has closed the bear body gap with the November low close shaded in red.
- This week is clearly a surprise, as bulls were likely expecting at least a small second leg down, and then a smaller buy signal bar.
- As good as this week has been, bulls need another non-doji follow-through bull bar to indicate that the market is more likely to stay above the weekly EMA.
- Last week’s report mentioned that one of the upside targets is the Q4 2025 close. At this point, that is approximately 300 points above at 25668.25, also shown above in the chart. There will likely be profit-taking at that close.
The Daily NASDAQ chart
- The daily chart is especially bullish – crossing over both the daily and weekly EMA this week.
- Monday is the first trading day after last week’s Friday trading holiday, and is a bull bar closing just above the daily EMA.
- Tuesday is a doji bull bar closing around Monday’s close but with a long tail below and a low below Monday’s low. This shows that there were buyers below Monday’s low and possibly the first sign that bears will fail at the daily EMA. For the past 2 months, bears have been selling the daily EMA and succeeding.
- Tuesday after hours, the market jumped, and Wednesday is a big bull bar, taking the market far above the daily EMA and the first close above the weekly EMA since February 25th.
- At this point, the market has closed the open bear body gap on the daily chart that was open as part of the recent sell-off below the November low close.
- Thursday is important – Usually big bars have bad follow-through, and the market is at important resistance – weekly EMA. Thursday is a good follow-through bull bar, albeit with a close below Wednesday’s high.
- Friday is a doji bull bar, and the market is at another resistance.
- It is possible that bulls were trapped out because the moves were big, and bulls want to buy a pullback. Note that, as strong as the move up has been, there are several legs since some bars have their low below prior bars.
- There is likely support at the daily EMA, and the green shaded area between the close of 4-7 and the open of 4-8. As mentioned above, the 4-8 bar is what took the market far above the daily EMA, so if the market were to get near its open/low, there will likely be buyers.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
