Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is a doji follow-through to 8-4 bull trend bar.
The daily chart was sideways as can be inferred from the doji weekly bar.
The monthly chart is a small bull bar with prominent tails as of now. There are two more weeks left in the month. There is a bull target slightly above on the monthly chart. Its possible for the market to reach that target, and then pullback, all in the next two weeks.
As prior reports have said that while the monthly chart is bullish, the risk is much bigger on the quarterly chart, so there is likely not a lot of upside on the quarterly chart.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a bad follow-through to the best-looking bull trend bar last week since week of 6-23.
- Bulls needed a good follow-through this week, while bears were hoping for a bad follow-through and looking to sell above the high of the big bear bar of the week of 7-28 from 2 weeks ago.
- Bears want next week to be a bear bar to disappoint the bulls, and bulls want next week to be a bull trend bar to trap the bears that sold the high of 7-28.
- As mentioned above, there is a bull target on the monthly chart above that bulls want to reach.
The Daily NASDAQ chart
- The daily chart is sideways for the week. Monday is a small bear bar followed by a bull trend bar on Tuesday.
- Wednesday and Thursday are small doji bars, and Friday is a small bear bar.
- The lack of consecutive bull bars means market will likely go sideways to down, maybe back to daily exponential moving average (EMA) again.
- At the same time, bears need to produce consecutive big bars like they did 2 weeks back.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
