Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures October month-to-month candlestick is a bear doji bar with an extended tail above. It’s an L2 promote sign bar that can doubtless set off.
The week is an outdoor down bear bar with tails above and under. It went above the excessive of final week after which reversed to go under the low of final week and closed above the low of final week.
Like September, October has stayed inside the vary of the prior quarterly bar because the prior quarterly bar is basically massive.
The commentary within the prior month’s report in regards to the prospects of the ultimate quarter of the yr, and the yearly shut remains to be legitimate. To this point bears have carried out their half to forestall a bull bar for the present month.
NASDAQ 100 Emini futures
The Month-to-month NASDAQ chart
- The October month bar is a L2 bear promote sign bar with larger tail above.
- The prior month-to-month report had mentioned that this month could possibly be a doji bar reverse to final month with a giant tail above.
- This month virtually met that expectation besides the tail on prime will not be as massive because the tail under of the prior month.
- The market is actually going sideways since July. The prior month’s report had additionally mentioned that the market will doubtless discover the higher tail of July to see the place sellers will are available.
- Nicely, bears have produced a promote sign bar across the center of July higher tail.
- The bear promote sign bar ought to set off, however the query is whether or not bears can produce a robust entry bar.
- Or will bulls purchase under the promote sign bar and check out for a brand new all-time excessive above the July excessive?
The Weekly NASDAQ chart
- The week is an outdoor down bear bar with tails above and under.
- It represents a reversal after three legs up since week of 8-5.
- Bears now want a robust follow-through bar to persuade merchants that the transfer up from 8-5 is a bear wedge flag and the second leg down is beginning.
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