Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures April 2025 is a big doji with small body at EMA – exponential moving average. It is the biggest bar in recent past, the size of July and August 2024 combined, the prior two big bars.
At the time of the prior monthly report, four days into April, the April bar was a big bear bar that had closed the bull body gap with December 2021. The market did fall some more but reversed all that over the month, leaving a long tail at the bottom of the bar, and still keeping the bull body gap with December 2021 open.
On the yearly chart, the market reversed from below the 2024 bull bar and is now a doji bear bar with a tail below.
NASDAQ 100 Emini futures
The Monthly NASDAQ chart
- The April month bar is a bull doji bar with a big tail below and a small body closing just above the monthly EMA.
- As mentioned above, this month is the biggest in recent past, so a big doji bull bar is not a good buy signal bar as the risk is big.
- The question now is – How high before sellers come in?
- At some point within the next few months, the market will likely visit the tail of this bar.
- As mentioned in prior reports, this quarter is already the biggest quarter in the recent past, and there are still two more months left. Big bars usually do not have breakouts, so it is less likely that there is a big bull breakout this month above the April bar.
- For the bulls, it is better if the market visits the tail first, tries a micro-double bottom, and then moves up again.
The Weekly NASDAQ chart
- The week is a bull trend bar between the monthly and weekly EMA.
- Last week’s report made the case that this week was not likely to be a good follow-through bar to last week. See the section from last week’s report explaining why?
- Well, this week is a good follow-through bar.
- It has also closed the bear body gap with 9-3-2024. Last week had closed the body gap by just closing slightly above the body gap. Bears needed this week to be a bear bar, or a small bull bar to still keep the bear gap open, with a small negative overlap.
- This week’s bull bar is big enough that the body gap can be considered closed. With it, the MM bear target of 15995.75 discussed from earlier reports is no longer worth tracking going forward.
- Last week’s big bull bar closed at the monthly EMA, and this week’s bull bar has closed at the weekly EMA.
- So, the work is still not complete for the bulls, because they need another good bull bar closing well above the weekly EMA, and then a good follow-through bar to that bar.
- Based on this week, though, there should likely be another leg up, even if there is a pullback now.
- The market will likely go sideways around the weekly and monthly EMA before deciding the next move.
- This would be in line with the monthly section above, which says its less likely that this month or next will break out above or below April.
Market analysis reports archive
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