Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is good entry bar to 10-13 inside buy signal bar.
The daily chart had two legs up and is back above the EMA.
Next week is the last week of the month. The monthly bar so far is another good bull bar, and close to the 2nd measured move target of 25670 mentioned in earlier reports.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a non-climactic bull entry bar, with a longer tail below, to the inside bull buy signal bar of last week.
- Bulls needed a good entry bar this week, and they got it.
- Now, bulls need a good follow-through bar next week, as this is still an attempt by the bulls to break out of the inside-outside-inside of the last three weeks.
- So, there are likely sellers at the close of this week and the high of bear bar from 10-6, betting that bulls will not get a good follow-through bar next week.
The Daily NASDAQ chart
- Last week ended with signs of bull strength – 3 of 4 days last week closed above EMA; Friday was a bull buy signal bar closing above EMA.
- Bulls needed a good entry bar on Monday. They got that.
- At the same time, the market got back to the prior high close before the big drop on 10-10 and found sellers here.
- Tuesday is a doji bar, and Wednesday a big bear bar with a long tail below, closing above EMA.
- Thursday and Friday is the 2nd leg up. They are a pair of good bull bars starting at the EMA and closing above the prior all-time high.
- Now the question is whether bulls will get a measured move of the bodies of Thursday and Friday.
- The problem with Thursday and Friday for the bulls is that it can be seen as a 2nd leg to Monday and Tuesday, unless next Monday is another good bull bar, in which case this last leg can be seen as a new breakout/spike.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
