Market Overview: NASDAQ 100 E-mini Futures
The NASDAQ E-mini futures week is another bear bar with prominent tails, with the bull body gap from August 2025 closed on the daily chart and the weekly in a leg in trading range to monthly exponential moving average (EMA).
The daily chart continued a leg up to the EMAs and then a leg down below last week’s lows.
NASDAQ 100 E-mini futures
The Weekly NASDAQ chart
- The week is another bear bar with prominent tails, getting rejected at the EMA.
- Bears are unable to create a bear trend bar.
- As mentioned last week, the move down looks like a leg in a trading range – buyers buying below prior lows and selling at resistance like the EMA.
- Can the market keep going this way to the monthly EMA? Yes, it’s possible since the monthly EMA is not far below.
- On the weekly chart, there is also no obvious strong support before the monthly EMA, so there could also be a big bear bar if bulls decide that’s where they would rather buy.
The Daily NASDAQ chart
- The market made a 2nd leg up Monday and Tuesday, corresponding to the big bull bar of last Monday, and then sold off for the rest of the week.
- Prior reports have talked about the bear target that has held so far – the highest close from 8-28-25. This is an open body gap, and it has now closed.
- At this point, all open body gaps that could be reasonably closed have been closed.
- In a trading range, the market closes open bull body gaps and then goes on to close open bear body gaps.
- The one bear body gap that was just opened is the low close from 11-20, which is around the close of Thursday/open of Friday this week.
- Minimally, the market should close this bear gap – Friday is a breakout of the doji bar on Thursday. Usually, such a breakout bar does not have follow-through. So, Monday is not likely to be a bear trend bar.
- At the same time, even if the market closes the bear body gap, there will be sellers around the open/high of Friday.
- The market is essentially attempting to break below the right shoulder of a head-and-shoulders pattern going back to August 2025.
- The daily EMA is also starting to slope downwards away from the weekly EMA.
- If next week is a bear trend follow-through bar, then likely the market will make its next target to the monthly EMA.
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