Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is a bull trend bar closing near its high with a small tail below. It is another new all-time high close above June 24 high, and a big bull body proportional to bull body of 6-10.
On the daily chart, the market had uniform sized bull bodies on 3 out of 4 days this week. Uniform sized means proportional to each other, and not disparate sized.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a big bull trend bar closing near its high.
- Last week’s report had mentioned that there will likely be a 2nd leg given the two good bull bars in the first two weeks of June.
- This week is a good start to the 2nd leg, although technically last week is a bad buy signal bar, so at some point, the market will likely test last week’s high.
- Bears need consecutive bear trend bars closing below prior bar lows like they did in March.
The Daily NASDAQ chart
- This was a short trading week as Thursday was a trading holiday, and Wednesday was a half-day.
- Monday was a bull reversal bar after the big bear reversal bar of last Friday. Tuesday was a good entry bar closing near its high.
- Wednesday and Friday are the best pair of uniform follow-through bull bars since early December 2023.
- The market has made two bull closes above the measured moved target shown in chart.
- The market is also in a bull micro-channel this week, and given the three consecutive good bull bars, it is likely there will be another leg up closing above the close of Friday.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.
