Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is a bull doji bar with a tail above. It is a bad follow-through to 9-16 entry bar and a close above 8-19 bull close.
On the daily chart, the market was in channel phase after the bull breakout last Thursday. Most days exhibited trading range price action.
The monthly bar triggered the bad buy signal bar of last month and pulled back. Next Monday is the last trading day of the month. Bulls would like to close the month on its high, while bears want an even bigger tail on top.
This month is also the end of the quarter. The monthly report next weekend will analyze what the last quarter of the year may present.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a bull doji bar with a tail above.
- It is a bad follow-through bar to last week’s entry bar closing below last week’s high
- It is a sell-signal bar since it closed below the mid-point but a bad sell-signal bar since its a bull bar.
- Bulls have done the minimum of a close above the bull doji bar from 8-19, while bears have done the minimum of a close below the mid-point.
- Bears want to avoid another bull close above 8-19.
- As mentioned last week, bulls need a series of non-climactic bull bars to convince traders the market is going much higher.
- If next week pulls back below this week’s low, it will signify the end of the 2nd leg up since the move up from August low started.
- The 2nd leg is strong enough that there will likely be a third leg even if it’s one bar.
The Daily NASDAQ chart
- This week was trading range price action on all days except Friday which was a bear trend bar with small tails.
- Monday was a doji bull bar. Tuesday was an outside up bull bar with a tail below, starting the next leg up. Wednesday was a doji bull bar with tails above and below. Thursday was a big bull bar at one point in the day but ended the day with a big tail above. Friday was a bear bar with small tails.
- The market is in a channel phase since the breakout bar last Thursday.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
