Market Overview: NASDAQ 100 E-mini Futures
The NASDAQ E-mini futures week is a 3CC bull trend bar and all-time high close – 3CC meaning three consecutive.
The daily chart is exceptionally strong – a bull micro-channel, i.e., no pullback, with most days being big bull trend bars.
The monthly bar is even bigger than last week, and there are still almost two weeks left in the month. It is still likely that at least one of the next two weeks will be a doji or bear bar.
Similarly, the quarterly bar is also big, and there are more than two months in the current quarter, which makes it likely that at least one of the next two months will be a doji or bear bar.
NASDAQ 100 E-mini futures
The Weekly NASDAQ chart
- The week is an even stronger bull trend bar than last week, breaking out of the exponential moving average (EMA) to an all-time high close.
- The last three weeks are the best three consecutive (3CC) bull bars in a long time.
- This means there will most likely be at least two more legs up.
- Prior reports mentioned that the Q4 2025 close at 25668.25 is one of the upside targets for the bulls. The market this week closed far above this target.
- Does that mean this level is no longer relevant? Not necessarily. Since this is a quarterly close, it will be interesting to see where the market is relative to this level at the quarter close, which is still more than two months away.
- Clearly, bears want a close below the Q4 quarterly close, while bulls want a close far enough above it.
- As mentioned in the summary, the monthly and quarterly bars are both pretty big, so the next month or two is likely to be sideways to down than straight up.
- Since the market has gone far above the EMA, it is likely the EMA will now act as support even if the market were to get back to it.
The Daily NASDAQ chart
- The daily chart is extremely bullish – a bull micro-channel with the best 3CC bull bars in a while on Monday, Tuesday and Wednesday, and every day closing near its high.
- It is also climactic and increases the risk as the stop is far away.
- Last Friday, the market had closed near resistance, just above the weekly EMA. Monday gapped below and opened below the weekly EMA, but found buyers and ended the day as a big outside up bull bar.
- Tuesday and Wednesday are the best bull pair of bull follow-through bars, taking the market to the prior high close of the year from 1-28.
- Thursday is a smaller bull bar to a new high close of the year, and Friday is a big bull bar to a new all-time high close.
- Since there have been no pullbacks, other than Monday, which was still close to resistance, traders have been unable to buy below with limit orders.
- The daily EMA just crossed back over the weekly EMA, but given there is more sideways to down action likely over the next few weeks, the daily EMA may go sideways with the weekly EMA.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
