Market Overview: NASDAQ 100 E-mini Futures

The NASDAQ E-mini futures week is another doji bear bar that finally has a close below November low close.

The daily chart continues to be sideways between the daily/weekly exponential moving average (EMA) and the November low close.

NASDAQ 100 Emini futures

The week is another doji bear bar.
This bar finally closes below the November low close.
It is the 3rd week where the market got rejected at the EMA.
At the same time, bears are unable to create a bear trend bar.
The move down looks like a leg in a trading range – buyers buying below prior lows and selling at resistance like the EMA.
Bulls had an opportunity to create a double bottom with the November low.
Bears need a bear trend bar next week to show they intend to take the market to the monthly EMA.
Can the market continue to move this way toward the monthly EMA? Yes, it’s possible.
Bulls will likely below this week. If next week is a bear trend bar, then bulls will be trapped.

The market continues to find buyers below prior lows, and sellers at the daily and weekly EMAs.
What is starting to change is that bull reversal bars are so climactic that they don’t have a follow-through bar and reach resistance within a bar or two.
Bears are starting to get non-climactic bars with follow-through.
Monday is such a climactic bull bar closing near the EMAs.
Tuesday and Wednesday are attempts for follow-through and getting above the EMA but failed.
Thursday and Friday are bear trend bars essentially reversing all of Monday.
Last week’s report talked about several bear targets. Bears have finally closed below the November low close.
The one that has held so far is the highest close from 8-28-25. That is the next target.
Friday’s close is not far enough below the November low close, so likely bulls will buy Friday’s close so Monday is not a follow-through bear bar.
If Monday is a follow-through bear bar, that is a surprise and should have a 2^nd leg down.

You can access all weekend reports on the Market Analysis page.