Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is a giant bull pattern bar closing close to its excessive. It’s one other new all-time excessive shut above June 3 excessive. It’s also the most important bull physique since October.
On the day by day chart, there’s a 4-bar bull micro-channel because the low of on a regular basis beginning Tuesday was greater than the prior day low.
The month-to-month chart is bull pattern bar already as large because the prior month bull bar. Since there are two extra weeks left within the month, the identical remark as previous few reviews apply – that its extra doubtless for a least one of many subsequent two weeks to be a doji/bear bars. As a substitute, if the subsequent two weeks are bull bars inflicting the month to be a giant bull bar, then it’s doubtless that the primary couple of weeks of subsequent month will probably be doji/bear bars.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a giant bull pattern bar closing close to its excessive.
- It’s the greatest bull physique since October, and the most important bull bar since April when the market reversed.
- The query now could be – will this bar act as a measuring hole or exhaustion hole?
- Massive bars are superb throughout a reversal when the primary leg is forming within the new path.
- Massive bars are lower than excellent in subsequent legs as a result of it could actually result in profit-taking.
- For this to be a measuring hole, bulls want a follow-through bar subsequent week.
- As talked about within the abstract, it’s extra doubtless for a minimum of one of many subsequent two weeks to be doji/bear bars.
The Every day NASDAQ chart
- Day by day of the week was a bull pattern bar (even with tails) besides Thursday which was a doji bar.
- Monday was an inside bull bar. Tuesday was a bull bar breaking out of out of doors doji bar from final Friday.
- Wednesday was extra follow-through with an particularly large bull bar.
- As was doubtless, Thursday was a doji bar.
- Friday closed as a bull bar close to its excessive with a tail under.
- If the market pulls again to under Wednesday’s large bar, there’ll doubtless be consumers
- At this level, it’s doubtless that the market will make the measured-move goal proven within the chart.
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