Market Overview: NASDAQ 100 Emini Futures
The NASDAQ Emini futures week is a bull pattern bar with a outstanding tail above and beneath. The market had a brand new all-time excessive shut above Might 27 excessive. Additionally, the bull physique hole with the March excessive shut remains to be open.
On the every day chart, Wednesday was an enormous bull pattern bar that contributed to a lot of the acquire for the week. The remainder of the times had been doji bars.
NASDAQ 100 Emini futures
The Weekly NASDAQ chart
- The week is a bull pattern bar with a outstanding tail on the prime and backside.
- Final week’s report talked about that final week was the primary pullback within the bull micro-channel that began the second half of April, and the market ought to make it at the very least to the shut of the bull bar of 5/20.
- This week closed above the bull shut from 5/20.
- That is doubtless the second leg of that transfer up.
The Day by day NASDAQ chart
- Monday and Tuesday had been doji bull bars after the large reversal up Friday.
- Wednesday was an enormous bull pattern bar. It’s normally exhausting to get follow-through after such an enormous bar.
- As anticipated, Thursday and Friday had been small doji bear bars.
- If the market makes it to beneath the large bull bar on Wednesday, there’ll doubtless be consumers.
- What’s fascinating is that inspite of the large transfer down final Friday, the physique hole with the excessive shut of March remains to be open.
- Assuming the physique hole with March excessive shut stays open, a possible bull goal is the measured transfer of April low shut and March excessive shut at 19996.75 which is near the 20000 huge spherical quantity.
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