Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is a bull entry bar with prominent tails. This week is a short trading week, as Monday was a trading holiday.
On the daily chart, the market is in a bull-microchannel, back above the daily exponential moving average (EMA).
The monthly bar is a H1 bull reversal bar. Last month was a bad sell signal bar, so it’s likely the market will go above its high. Next week is the last week of the month. Bulls want to close the month near the high, while bears want a tail at the top.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a bull entry bar with prominent tails.
- Last week is a big H2 bull buy signal bar at the EMA.
- Last week’s report had said that buying above last week is buying in the middle of the trading range.
- With this week’s entry bar, the market is now in the upper third of the trading range.
- As the summary section says, it is likely the market will go above the December high since December is a bad sell signal bar.
- So sellers might wait to sell at December high.
- Bulls will need a series of non-climactic bull trend bars breaking above the December high to show the market is breaking out of the trading range.
The Daily NASDAQ chart
- Last week’s report said the market looks like a bull leg in a trading range.
- This week had consecutive bull bars above last week to reach one of the resistance areas shown in the chart, and then went sideways rest of the week.
- It is a bull micro-channel which means likely a second leg up, even if market pulls back to the EMA.
- Monday was a trading holiday. Tuesday is a doji bull bar and Wednesday is a bull bar. Thursday is a bull inside bar, and Friday a bear outside down bar.
- Bears need a good bear entry bar to signify the market is reversing at the resistance. Bulls need a series of bull bars to trap bears and show that the market is breaking above the resistance shown.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
