Market Overview: NASDAQ 100 E-mini Futures

The NASDAQ E-mini futures week is another doji bear bar – consecutive dojis.

The daily chart is 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 closing near the November low close.
It is the 2^nd week where the market got rejected at the EMA
The positive for the bears is that it is the lowest weekly close since the November low close, while the positive for the bulls is that they are preventing bear trend bars.
As mentioned in last week’s report, if the market does not start creating lower closes soon, the market will likely try to move higher, above the EMA.

The prior daily report two weeks ago said that the market will likely make the EMAs, at which point it is worth seeing if sellers continue to sell and can produce consecutive bear trend bars, or whether the market continues the trading range bounded by the EMAs above.
Well, the market did make the EMAs, and at the same time, the market has mostly been in a trading range – alternating bull and bear days, bars with tails, bounded by the EMAs above, and the lows around the November low close.
Monday is a bull bar reversing around the February lows. Tuesday is a bear bar with a prominent tail below again around the February low.
Wednesday is another big bull bar closing at EMAs. Thursday is a bear sell signal bar at the EMA, but with a prominent tail below. Friday is a bear trend bar closing near the 2-5 low close.
What are some of the bear targets? There are several targets shown as green lines on the chart. The one that has held so far is the highest close from 8-28-25.
The next target is the monthly EMA. Interestingly, the most significant bear action recently has been the 3 bear trend bars leading up to 2-5. The MM of the bodies of those 3 bars is around the monthly EMA. In other words, one sells below 2-5, puts a stop above the 2-3 bar, and a target of the MM of the bodies of the 3 bars.
This is likely the reason bulls keep defending the recent lows, because they know the next likely support area is the monthly EMA, which is far below.

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