Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is a bull reversal inside bar with small tails.
The daily chart is alternating bull/bear bars for the week, above and below the daily exponential moving average (EMA). Friday ended as a bull bar above the EMA.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a non-climactic bull inside bar with small tails.
- Last week’s report mentioned that there were likely buyers around the high/close of the 9-8 buy.
- The market reversed up this week from around that area.
- Bears needed a good follow-through bar this week. They did not get it.
- Now bulls need a good follow-through bar next week.
- Bulls would like to make the 2nd measured move target on the monthly chart of the bodies of the May and June monthly bars.
The Daily NASDAQ chart
- The daily chart started the week as alternating bull/bear bars above and below the EMA, and ended the week as a bull buy signal bar above EMA.
- Monday is a strong bull inside bar, disappointing the bears. Tuesday is an outside down bear bar with big tails, indicating traders are buying below and selling above.
- Wednesday is a bull bar with bigger tails above. Thursday reaches the low of last Thursday (the bar before the big bear bar last Friday) and finds sellers. Thursday ends as another outside down bear bar with tails, and a close above the daily EMA.
- The market is showing strength in that 3 of the 4 days this week close above EMA.
- Friday is a bull bar with a good body closing above the EMA, although a long tail below.
- Bulls need a good entry bar on Monday. Bulls want to make a try at the 2nd measured move bull target mentioned above.
- Bears will likely sell around the high/close of the big bear bar of last Friday.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
