Market Overview: NASDAQ 100 Emini Futures

The NASDAQ Emini futures week is a bull bar with a prominent tail above. The market is back in the area of trading range from March.

On the daily chart, Monday was a good follow-through bar to last Friday’s bull entry bar. The rest of the week was trading range price action.

So far the month is a big bull bar mostly overlapping last month’s body, but there are still 3 more weeks in the month.

NASDAQ 100 Emini futures

The week is a bull bar with a bigger tail on top than the bottom.
Last week’s report had mentioned that bears might wait for a couple of legs higher to sell.
Next week will likely start the pullback from the 1^st leg up.
The market is also back near the inside bear bar from 4 weeks ago that might have had buyers below that then were trapped by the big bear breakout bar.
This might be another reason for sellers here.

The market had a bull trend bar on Monday, but then the rest of the week is pretty weak trading range price action.
The three bull trend bars from last Thursday, Friday and Monday this week could represent a spike which then would have two additional legs up.
Wednesday went below Tuesday to start the channel phase and ended up as a doji buy signal bar.
Thursday was an inside bar. Friday went above Thursday and ended up as a doji bull bar with a long tail above.
So far the channel phase of the move up from last week has been very weak.

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