Nasdaq 100 Weak Third Leg up From 8-5

Market Overview: NASDAQ 100 Emini Futures

The NASDAQ Emini futures week is a doji bull bar with a detailed across the center of the bar. It represents a weak third leg up from 8-5.

On the every day chart, the market continues its bull channel part above the exponential transferring common (EMA).

The month is a doji bull bar with a detailed round final month excessive. The excessive of this month is across the midpoint of the higher tail of July.

NASDAQ 100 Emini futures

The Weekly NASDAQ chart

• The week is a doji bull bar.
• It’s a dangerous follow-through bar to the entry bar of final week. It exhibits that the transfer up since August is weakening because the market is approaching the earlier highest shut of 7-1.
• Subsequent week will seemingly pullback beneath the low of this week, to indicate the top of one other leg.
• Bulls want an enormous breakout bar above the 7-1 shut with good follow-through. That is unlikely, as there ought to be sellers on the 7-1 bull shut.

The Day by day NASDAQ chart

• The market continues its channel above the exponential transferring common (EMA), with a mixture of development days and extra buying and selling vary days.
• Monday was a bull bar above Friday’s inside bar representing a 2^nd leg up from the 1^st leg early final week. Tuesday was a bear bar going beneath Monday’s low, representing the top of the two^nd leg up. Wednesday was a nasty follow-through doji bar and one other purchase sign bar. Thursday was a nasty entry bar with an extended tail above. Friday was a small inside bar.
• The early a part of subsequent week will seemingly set off the Friday inside bar and repeat one thing like this week the place the middle-2^nd half of the week is a leg down.
• Bears are capable of produce bear development bars, however no follow-through.

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