Market Overview: NASDAQ 100 Emini Futures

The NASDAQ Emini futures April month-to-month candlestick is an enormous bear bar with a outstanding tail beneath. It’s the first pullback since October 2023.

The week is a bull doji bar with an extended tail beneath. The lengthy tail beneath is probably going the two^nd leg similar to the large transfer down 2 weeks again.

NASDAQ 100 Emini futures

The Month-to-month NASDAQ chart

• The April month bar is an enormous bear bar with a outstanding tail beneath.
• That is the primary pullback within the bull micro-channel that began in November 2023.
• The final month-to-month report had talked about that bears can nonetheless attempt to shut the bull physique hole with December 2021 in April.
• The April bar went beneath the December 2021 excessive shut, however then closed above the December 2021 excessive shut.
• So technically the bull physique hole continues to be open.
• The micro-channel up from November 2023 is probably going a spike on the next timeframe, so there needs to be a channel part.
• The market might strive a 2^nd leg up in April, Might and June.

The Weekly NASDAQ chart

• The week is a doji bull bar with an extended tail beneath and an in depth above final week excessive.
• Final week’s report had talked about how the purchase sign bar probably had sellers above.
• The tail on this week’s bar was brought on by the sellers within the first half of the week after the market triggered the purchase sign bar.
• The market then rallied on Thursday and Friday.
• Bears may now wait until a few legs as much as promote increased.

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