Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures March 2025 is huge bear pattern bear bar at EMA – exponential transferring common. It’s a huge bar in comparison with current months save August 2024. It’s a good entry bar to a weak February promote sign bar.
Whereas that is the month-to-month report for March, a lot has occurred within the brief new month to date this week, that it overshadows what has occurred in March. The bull physique hole with December 2021 has possible closed with the April month to date, the phrase possible as a result of we’re solely 4 days into the brand new month, and bulls can purchase to shut again above December 2021 shut.
On the yearly chart (see inset within the month-to-month chart beneath), the market has reversed the bull bar of 2024 in a matter of two months. The report from just 3 weeks ago had proven the yearly chart, and bears who had offered the 2022 excessive or 2023 shut and scaled in greater on the 2024 shut had been at breakeven – approx. the midpoint of the 2024 bull bar. Nicely, now these bears have made cash because the market is beneath the 2022 bear excessive, the 2023 bull shut, and the 2024 low. By going beneath the low of 2024, this yr is not an inside bar and has triggered a foul promote sign bar (i.e. 2024).
So, the query is the place will the consumers are available in? Technically, there are consumers beneath robust bull bars or a foul promote sign bar, so there might be consumers beneath the 2024 yearly bar, the place the market is at present. It’s also a 50% pullback of the vary of your entire transfer from the 2022 low to the 2024 excessive.
The opposite place is the midpoint of the 2023 bull bar (proven within the chart beneath), which might even be roughly the midpoint of the 2022 bear bar. For the rationale, see this report from December 2023.
This week is the largest bear bar within the current previous, and the month simply 4 days in, is already the largest month within the final 20 bars or so. Can the month get even greater subsequent week? Doubtless not. The market might go sideways for a few weeks after which determine to revisit the lows.
NASDAQ 100 Emini futures
The Month-to-month NASDAQ chart
- The March month bar is a giant bear pattern bar on the month-to-month EMA.
- The March month is the bear breakout bar representing the leg down from the leg up since August 2024.
- Given the market is on the month-to-month EMA after 17 bars or so, one would count on it to behave as assist, and for there to be consumers.
- Nevertheless, the market this week has fallen far sufficient beneath the month-to-month EMA, that these consumers are possible trapped, and the EMA will now grow to be resistance.
- As talked about within the abstract, the market has possible closed the bull physique hole with the 2021 December shut. It’s only 4 days into the brand new month, so it’s doable bulls purchase to shut the month above the December 2021 shut and hold the bull physique hole open.
The Weekly NASDAQ chart
- The week is the largest bear bar in current previous.
- It has damaged beneath a number of assist ranges to the left proven by the inexperienced strains on the chart.
- It has additionally closed the bull physique hole with week of 7-24-2023.
- The previous two-week reports had stated that this week is prone to be a bull bar – a foul follow-through to the bear bar of final week at vital assist – month-to-month EMA. The report additionally stated that if this week did finish as a bear pattern bar, then it might be a shock and result in one other leg down. Nicely, the market did the much less possible factor.
- That is one more reason why its possible that the month-to-month EMA has grow to be resistance.
- So what is probably going subsequent week – Huge bars normally have dangerous follow-through, so it’s much less possible that subsequent week might be one other bear follow-through bar.
- The market has additionally closed all open bull physique gaps, so the market ought to go sideways a bit to determine what occurs subsequent. That is the chance for the bulls to start out a leg up.
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