Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures month December 2024 is unhealthy promote sign bar – a bear doji reversal bar with a protracted tail above. November was the all-time excessive shut of the 12 months.
The week is a brief buying and selling week. It’s a bear doji purchase sign bar with a protracted tail beneath. It went beneath the low of final week and the week earlier than after which reversed up on the exponential shifting common (EMA).
The This fall quarterly bar ended as a doji bull bar closing just under the mid-point and beneath the prior quarter excessive. It’s a unhealthy promote sign bar, however within the higher half of the prior quarter doji bar, which implies the low of this quarter will possible get triggered throughout the subsequent bar or two.
Bears needed Q3 to be the best quarterly shut of the 12 months. They needed This fall to shut beneath Q3 shut. They need a sideways transfer for the subsequent a number of quarters that enables them to begin a leg downwards.
Bulls needed the alternative. They needed This fall to be a bull pattern bar.
Properly, the market disenchanted each – Bears didn’t get a detailed beneath Q3, however bulls additionally didn’t get a pattern bar. They each acquired their minimal. Bulls acquired a bull shut, and bears acquired a detailed beneath the mid-point.
The yearly bar is a non-climactic bull bar with a distinguished tail above. Earlier month-to-month studies have made the case for the yearly bar to be a foul entry bar. That didn’t turn into the case. Bears did produce a bear doji bar for the month of December with a protracted tail above, however they want an excellent entry bar in January.
Is it possible for 2025 to be a bull pattern bar with no tail beneath? It’s much less possible. Even when 2025 is a bull bar, there’ll possible be a tail beneath. It’s extra possible for 1st half of 2025 to pullback, after which the market will resolve whether or not to finish the 12 months as a doji bar or not. The September month-to-month report has an in depth commentary on the yearly chart which continues to be legitimate.
NASDAQ 100 Emini futures
The Month-to-month NASDAQ chart
- The December month bar is a foul promote sign bar – a doji bear bar with a protracted tail above.
- The market has been in a buying and selling vary since July. Bears possible bought the excessive of July, scaled in increased and made cash.
- Bulls wanted a sequence of bull bars closing above the July excessive to persuade merchants {that a} new leg up is beginning.
- Bears now want an excellent entry bar.
- One of many bull targets is the Measured Transfer (MM) of the excessive shut of 2021 and the low shut of 2022. That is primarily based on the truth that the physique hole with the excessive shut of 2021 continues to be open. This goal is at 23810.75.
The Weekly NASDAQ chart
- The week is a doji bear bar with a protracted tail beneath.
- The earlier report on 12-16 had stated a number of issues –
- Now we have possible seen the excessive of 2024 as of that week.
- Consumers beneath low of the massive bar of 12-2 would possible make a scalp of a mean bar measurement.
- If the market goes down the next week, it can possible reverse across the decrease tail and if it as a substitute goes up, will possible reverse someplace across the higher 1/3 of the 12-16 bar
- The subsequent two weeks would possible be throughout the vary of the week of 12-16 since that bar was so massive.
- The market largely met these expectations – The market did go barely beneath the low of 12-16 after which reversed on the EMA.
- Whereas this week is a foul purchase sign bar, it’s reversing from close to the low of the massive bar of 12-16 and the EMA, so the market will possible go increased so bears can try an excellent promote sign bar from across the excessive of 12-16.
Market evaluation studies archive
You possibly can entry all weekend studies on the Market Evaluation web page.
