{"id":178143,"date":"2023-05-13T07:00:00","date_gmt":"2023-05-13T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=178143"},"modified":"2023-05-13T03:20:10","modified_gmt":"2023-05-13T10:20:10","slug":"nasdaq-100-bull-leg","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/nasdaq-100-bull-leg\/","title":{"rendered":"Nasdaq 100 Bull Leg in Trading Range"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: NASDAQ 100 Emini Futures<\/h2>\n\n\n\n<p>The <strong>NASDAQ Emini<\/strong> futures ended the the week as a Nasdaq 100 bull leg with a doji bull bar and long tail above, closing just above last week\u2019s high.<\/p>\n\n\n\n<p>The price action for the past few weeks looks like an expanding triangle \u2013 a new high, followed by a low \u2013 week of 4\/24, followed by a new high. So, when it reverses, it can go below the low of 4\/24.<\/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-bull-leg-in-trading-range.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-bull-leg-in-trading-range-680x383.png\" alt=\"Nasdaq 100 Bull Leg in Trading Range on Weekly Chart\" class=\"wp-image-178190\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-bull-leg-in-trading-range-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-bull-leg-in-trading-range-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-bull-leg-in-trading-range-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-bull-leg-in-trading-range-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-bull-leg-in-trading-range.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.investing.com\/indices\/nq-100-futures\" target=\"_blank\" rel=\"noreferrer noopener\">There is not much new this week<\/a>.<\/li>\n\n\n\n<li>The bulls again did the minimum of having a bull close above last week\u2019s high.<\/li>\n\n\n\n<li>The bears did their part of producing a tail on the top.<\/li>\n\n\n\n<li>As mentioned above, the market is likely creating an expanding triangle, which when reverses should go below the prior low of 4\/24.<\/li>\n\n\n\n<li>It maybe like the opposite of what happened in October, as well as last May and June.<\/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>The first bear target is the bottom of week of 4\/24 \u2013 12800.<\/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>The next target for bears will be to close the body gap by going below close of 1\/30 \u2013 12613.25<\/li>\n\n\n\n<li>The weekly exponential moving average (EMA) is getting close to the monthly EMA (shown by the green shaded region on the chart)<\/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-2.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-2-680x383.png\" alt=\"Nasdaq Daily Continued Trading Range\" class=\"wp-image-178199\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range-2-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range-2-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range-2-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range-2-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Daily-continued-trading-range-2.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 big outside down bear day with a big tail at the bottom.<\/li>\n\n\n\n<li>The market rallied in the last 2 hours on Friday to help put a weekly close above last week\u2019s high.<\/li>\n\n\n\n<li>Monday was a bull follow-through bar to the big bull bar last Friday. It showed that the market was accepting the big bull bar from Friday.<\/li>\n\n\n\n<li>The market gapped down on Tuesday and closed as a small bear bar near Monday\u2019s low. This was a surprise.<\/li>\n\n\n\n<li>Wednesday gapped up much higher, which was another surprise. The market then sold off to Tuesday\u2019s low letting the bears out and then closed higher, producing a big tail below.<\/li>\n\n\n\n<li>Thursday was a trading range bull follow-through bar to Wednesday, with a close just below Wednesday\u2019s high.<\/li>\n\n\n\n<li>It looks like the low of Friday was to the high of the Tuesday bear bar, allowing the bears who sold above the Tuesday bear bar to exit.<\/li>\n\n\n\n<li>This price action shows that even though the market is going higher, it is a bull leg in a trading range as breakout body gaps are closing.<\/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 The NASDAQ Emini futures ended the the week as a Nasdaq 100 bull leg with a doji bull bar and long tail above, closing just above last week\u2019s high. The price action for the past few weeks looks like an expanding triangle \u2013 a new high, followed by a [&hellip;]<\/p>\n","protected":false},"author":3331,"featured_media":178190,"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],"class_list":{"0":"post-178143","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":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/NASDAQ-Weekly-bull-leg-in-trading-range.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\/178143","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=178143"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/178143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/178190"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=178143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=178143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=178143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}