{"id":177565,"date":"2023-05-06T07:00:00","date_gmt":"2023-05-06T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=177565"},"modified":"2023-05-06T03:39:24","modified_gmt":"2023-05-06T10:39:24","slug":"nasdaq-minimum-follow-through","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/nasdaq-minimum-follow-through\/","title":{"rendered":"Nasdaq Minimum Follow-through Bar on Weekly Chart"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: NASDAQ 100 Emini Futures<\/h2>\n\n\n\n<p><strong>NASDAQ Emini<\/strong> futures market ended week with minimum follow-through bar to the outside bar last week. Closed as a doji bar with a long tail below, closing just below last week\u2019s close.<\/p>\n\n\n\n<p>The market has been essentially sideways for the past 5 weeks. There are still bull targets above, so likely the market will make those before a bigger pullback.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">NASDAQ 100 Emini futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> NASDAQ chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-weak-follow-through-to-outside-bar.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-weak-follow-through-to-outside-bar-680x383.png\" alt=\"Nasdaq Weekly Weak Minimum Follow-through to outside bar\" class=\"wp-image-177627\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-weak-follow-through-to-outside-bar-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-weak-follow-through-to-outside-bar-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-weak-follow-through-to-outside-bar-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-weak-follow-through-to-outside-bar-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-weak-follow-through-to-outside-bar.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The market tried reversing from the outside bar of last week.<\/li>\n\n\n\n<li>While last week was a bull outside bar, it went <a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/nasdaq-monthly-bull-follow-through\/\" target=\"_blank\" rel=\"noreferrer noopener\">below the prior week more than above<\/a> the prior week.<\/li>\n\n\n\n<li>So, it was likely for the market to try and move lower this week.<\/li>\n\n\n\n<li>Bears who had sold in the lower half of last week sold the close of last week and were able to get out without a loss.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.investing.com\/indices\/nq-100-futures\" target=\"_blank\" rel=\"noreferrer noopener\">That explains the tail below this week<\/a>.<\/li>\n\n\n\n<li>So, now the question is \u2013 Will the market continue going sideways, or will it try to reach the targets above?<\/li>\n\n\n\n<li>The bulls did the minimum of having a bull close this week.<\/li>\n\n\n\n<li>This is the first consecutive bull close in the past 6 weeks.<\/li>\n\n\n\n<li>The next bull target is the close of Week of 8\/8 at 13569.75 \u2013 the last bull bar of the micro channel up in August. That was a reasonable buy the close bar, and there are trapped bulls up there.<\/li>\n\n\n\n<li>The market is close enough to this target that it should reach it.<\/li>\n\n\n\n<li>There is also a body gap created by the week of 1\/30 \u2013 There has not been a bear close after the market broke above the close of 1\/30 that overlaps with the body of 1\/30.<\/li>\n\n\n\n<li>If the market goes sideways for a few weeks, bears will try to get a leg down like they did at the end of the first leg up in early February.<\/li>\n\n\n\n<li>The first target for bears will be to close the body gap by going below close of 1\/30 \u2013 12613.25<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> NASDAQ chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range-680x383.png\" alt=\"Nasdaq Daily Continued Trading Range\" class=\"wp-image-177630\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Friday was a bull trend bar with a small tail at the top. It went a lot higher than Thursday but closed below the close of last week.<\/li>\n\n\n\n<li>After the strong move up last week, it was likely there would be a 2<sup>nd<\/sup> leg.<\/li>\n\n\n\n<li>The week started with two legs down to the high of the 4\/25 bar from last week.<\/li>\n\n\n\n<li>This was the breakout point of last week, so likely trapped bears above the high of 4\/25.<\/li>\n\n\n\n<li>This was tested on Thursday, and Friday gapped up and finished strongly.<\/li>\n\n\n\n<li>Is Friday the end of the 2<sup>nd<\/sup> leg?<\/li>\n\n\n\n<li>Bulls will need a good follow-through bar Monday. If not, the market will likely continue to go more sideways.<\/li>\n\n\n\n<li>When there is a bigger pullback, some of the possible targets and areas of support are shown in the chart.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: NASDAQ 100 Emini Futures NASDAQ Emini futures market ended week with minimum follow-through bar to the outside bar last week. Closed as a doji bar with a long tail below, closing just below last week\u2019s close. The market has been essentially sideways for the past 5 weeks. There are still bull targets above, [&hellip;]<\/p>\n","protected":false},"author":3331,"featured_media":177627,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[136,1849],"tags":[1850,1455],"class_list":{"0":"post-177565","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analysis","8":"category-nasdaq-100","9":"tag-nasdaq-100","10":"tag-weak-follow-through","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-weak-follow-through-to-outside-bar.png","author_info":{"display_name":"Rajesh","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/rajeshh_98yahoo-com\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/177565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/users\/3331"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=177565"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/177565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/177627"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=177565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=177565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=177565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}