Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures month December 2024 is dangerous promote sign bar – a bear doji reversal bar with a protracted tail above. November was the all-time excessive shut of the yr.
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 transferring 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 dangerous promote sign bar, however within the higher half of the prior quarter doji bar, which implies the low of this quarter will probably get triggered throughout the subsequent bar or two.
Bears wished Q3 to be the best quarterly shut of the yr. They wished This fall to shut beneath Q3 shut. They need a sideways transfer for the subsequent a number of quarters that enables them to start out a leg downwards.
Bulls wished the other. They wished This fall to be a bull pattern bar.
Properly, the market disillusioned each – Bears didn’t get a detailed beneath Q3, however bulls additionally didn’t get a pattern bar. They each received their minimal. Bulls received a bull shut, and bears received a detailed beneath the mid-point.
The yearly bar is a non-climactic bull bar with a distinguished tail above. Earlier month-to-month stories have made the case for the yearly bar to be a nasty 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 a superb entry bar in January.
Is it probably for 2025 to be a bull pattern bar with out a tail beneath? It’s much less probably. Even when 2025 is a bull bar, there’ll probably be a tail beneath. It’s extra probably for 1st half of 2025 to pullback, after which the market will resolve whether or not to finish the yr as a doji bar or not. The September month-to-month report has an in depth commentary on the yearly chart which remains to be legitimate.
NASDAQ 100 Emini futures
The Month-to-month NASDAQ chart
- The December month bar is a nasty 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 probably 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 a superb 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 based mostly on the truth that the physique hole with the excessive shut of 2021 remains 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 couple of issues –
- We have now probably seen the excessive of 2024 as of that week.
- Patrons beneath low of the large bar of 12-2 would probably make a scalp of a mean bar dimension.
- If the market goes down the next week, it should probably reverse across the decrease tail and if it as a substitute goes up, will probably reverse someplace across the higher 1/3 of the 12-16 bar
- The following two weeks would probably be throughout the vary of the week of 12-16 since that bar was so huge.
- The market principally 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 nasty purchase sign bar, it’s reversing from close to the low of the large bar of 12-16 and the EMA, so the market will probably go increased so bears can try a superb promote sign bar from across the excessive of 12-16.
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