Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is a doji bull bar with a close around the middle of the bar. It represents a weak third leg up from 8-5.
On the daily chart, the market continues its bull channel phase above the exponential moving average (EMA).
The month is a doji bull bar with a close around last month high. The high of this month is around the midpoint of the upper tail of July.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a doji bull bar.
- It is a bad follow-through bar to the entry bar of last week. It shows that the move up since August is weakening as the market is approaching the previous highest close of 7-1.
- Next week will likely pullback below the low of this week, to signify the end of another leg.
- Bulls need a big breakout bar above the 7-1 close with good follow-through. This is unlikely, as there should be sellers at the 7-1 bull close.
The Daily NASDAQ chart
- The market continues its channel above the exponential moving average (EMA), with a mix of trend days and more trading range days.
- Monday was a bull bar above Friday’s inside bar representing a 2nd leg up from the 1st leg early last week. Tuesday was a bear bar going below Monday’s low, representing the end of the 2nd leg up. Wednesday was a bad follow-through doji bar and another buy signal bar. Thursday was a bad entry bar with a long tail above. Friday was a small inside bar.
- The early part of next week will likely trigger the Friday inside bar and repeat something like this week where the middle-2nd half of the week is a leg down.
- Bears are able to produce bear trend bars, but no follow-through.
Market analysis reports archive
You can access all weekend reports on the Market Analysis page.