Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures January 2025 is bad buy signal bar – a bull doji H1 reversal bar with prominent tails.
The week is a volatile week. It is a big doji bear bar with a long tail below closing above the mid-point. The bar length spans most of the length of the monthly bar. At one point on Monday, the week was a big bear trend bar near the low of the month. By Friday morning session, it had reversed to be near the high of the month.
NASDAQ 100 Emini futures
The Monthly NASDAQ chart
- The January month bar is a bad H1 buy signal bar – a doji bull bar with prominent tails.
- The market is repeating the July-August triangle behavior, although the range of bars is smaller.
- Last month was a bad sell signal bar, and this month is a bad buy signal bar.
- Bulls needed a series of bull bars closing above the July high to convince traders that a new leg up is starting.
- Bears needed a good entry bar this month.
- Neither are getting what they want, so market continues to be in trading range, till there is a breakout.
- The market will likely trigger the buy signal bar, and may still go above the December high to see where sellers come in.
- One of the bull targets is the Measured Move (MM) of the high close of 2021 and the low close of 2022. This is based on the fact that the body gap with the high close of 2021 is still open. This target is at 23810.75.
The Weekly NASDAQ chart
- The week is a big bear doji reversal bar with a long tail below.
- It is a bad H3 signal bar.
- Last week’s report said that the market is in the upper third of the trading range that started in December.
- Last week’s report also said the market may go above the December high before sellers come in.
- This week is a surprisingly big bear bar. It gapped down on Sunday during the globex hours and also formed the low during those globex hours.
- Friday is an interesting day as it is the last day of the week, and also the last day of the month. So it will influence both the weekly and monthly chart.
- At one point Friday morning, the bar was a bull bar at last week’s close.
- Bulls who had bought last week’s close were able to exit break-even.
- By the time Friday closed, the week was a big doji bear bar with a small body.
- Traders are selling high and buying low, a sign of trading range.
- We are again in the middle of the trading range from December. Traders buying/selling close of this week should be prepared to scale in lower/higher.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
