The week closed as bull trend bar with small tails, closing above last week\u2019s high.<\/p>\n\n\n\n
NASDAQ 100 Emini futures<\/h2>\n\n\n\nThe Monthly<\/em> NASDAQ chart<\/h3>\n\n\n\n![\"Nasdaq](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/NASDAQ-Monthly-first-pullback-since-March-2023-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- The August month bar is a doji bear bar with a long tail below.<\/li>\n\n\n\n
- This month pulled back below July low and closed above the July low and above the mid-point of the bar.<\/li>\n\n\n\n
- Previous reports had mentioned that if the market pulls back, it will likely find support between the May close and August 2022 high.<\/li>\n\n\n\n
- The market reversed from slightly above the May high.<\/li>\n\n\n\n
- Bears wanted a close below the low of last month. Bulls wanted a close above the low of last month, and a close above the mid-point of the bar.<\/li>\n\n\n\n
- Bulls got what they wanted.<\/li>\n\n\n\n
- If September sells off again, there will likely be buyers in the lower half of August.<\/li>\n\n\n\n
- 2023 so far is an inside bar. The question is \u2013 Will there be sellers above the 2022 high?<\/li>\n\n\n\n
- The next targets for the bulls are \u2013\n
\n- The all-time high close of Dec 2021 \u2013 16338.75<\/li>\n\n\n\n
- The all-time high in November 2021 at 16767.5<\/li>\n\n\n\n
- The Measured Move (MM) based on high of August 2022 and low of October 2022 \u2013 at 16996.75 which would be a new all-time high.<\/li>\n\n\n\n
- The MM based on the bodies of May and June 2023 \u2013 at 17342<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears would like a close below the prior month. That will be the first signal to indicate they can sell higher.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> NASDAQ chart<\/h3>\n\n\n\n![\"Nasdaq](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/NASDAQ-Weekly-pullback-from-the-pullback-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- The week is a surprise bull trend bar with small tails.<\/li>\n\n\n\n
- It is a surprise because it follows last week\u2019s doji bar and was likely to be another trading range bar.<\/li>\n\n\n\n
- This week is strong also likely because bulls wanted the month to close as strongly as possible, and those bulls might scalp out.<\/li>\n\n\n\n
- The market is back in the region around 15492 where limit order bulls may have bought the low of Week of 7\/24 during the week of 7\/31 expecting more up (shown with a red line on the chart)<\/li>\n\n\n\n
- These bulls were trapped by the 2 bear bars following the week of 7\/31.<\/li>\n\n\n\n
- It is likely that those bulls will sell now, thus making next week or two bear bars or have long tails below them.<\/li>\n\n\n\n
- Bulls also want a better buy signal bar closer to the exponential moving average (EMA).<\/li>\n\n\n\n
- The signal bar 2 weeks ago was a bear bar. Last week triggered the signal bar but closed below the high of the signal bar. This week is a breakout attempt above last week.<\/li>\n\n\n\n
- If next week is a bear bar, it may be the start of the 2nd<\/sup> leg down.<\/li>\n\n\n\n
- If next week is another bull bar, it is likely there will be a small second leg up before the 2nd<\/sup> leg down starts.<\/li>\n\n\n\n
- The market should also test the exponential moving average (EMA) in the next few weeks.<\/li>\n\n\n\n
- If bulls can keep going up from here instead, the body gap close with March 2022 would be a considered a negative gap \u2013 a small overlap and trend resumption up.<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- \n
- The August month bar is a doji bear bar with a long tail below.<\/li>\n\n\n\n
- This month pulled back below July low and closed above the July low and above the mid-point of the bar.<\/li>\n\n\n\n
- Previous reports had mentioned that if the market pulls back, it will likely find support between the May close and August 2022 high.<\/li>\n\n\n\n
- The market reversed from slightly above the May high.<\/li>\n\n\n\n
- Bears wanted a close below the low of last month. Bulls wanted a close above the low of last month, and a close above the mid-point of the bar.<\/li>\n\n\n\n
- Bulls got what they wanted.<\/li>\n\n\n\n
- If September sells off again, there will likely be buyers in the lower half of August.<\/li>\n\n\n\n
- 2023 so far is an inside bar. The question is \u2013 Will there be sellers above the 2022 high?<\/li>\n\n\n\n
- The next targets for the bulls are \u2013\n
- \n
- The all-time high close of Dec 2021 \u2013 16338.75<\/li>\n\n\n\n
- The all-time high in November 2021 at 16767.5<\/li>\n\n\n\n
- The Measured Move (MM) based on high of August 2022 and low of October 2022 \u2013 at 16996.75 which would be a new all-time high.<\/li>\n\n\n\n
- The MM based on the bodies of May and June 2023 \u2013 at 17342<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Bears would like a close below the prior month. That will be the first signal to indicate they can sell higher.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> NASDAQ chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- \n
- The week is a surprise bull trend bar with small tails.<\/li>\n\n\n\n
- It is a surprise because it follows last week\u2019s doji bar and was likely to be another trading range bar.<\/li>\n\n\n\n
- This week is strong also likely because bulls wanted the month to close as strongly as possible, and those bulls might scalp out.<\/li>\n\n\n\n
- The market is back in the region around 15492 where limit order bulls may have bought the low of Week of 7\/24 during the week of 7\/31 expecting more up (shown with a red line on the chart)<\/li>\n\n\n\n
- These bulls were trapped by the 2 bear bars following the week of 7\/31.<\/li>\n\n\n\n
- It is likely that those bulls will sell now, thus making next week or two bear bars or have long tails below them.<\/li>\n\n\n\n
- Bulls also want a better buy signal bar closer to the exponential moving average (EMA).<\/li>\n\n\n\n
- The signal bar 2 weeks ago was a bear bar. Last week triggered the signal bar but closed below the high of the signal bar. This week is a breakout attempt above last week.<\/li>\n\n\n\n
- If next week is a bear bar, it may be the start of the 2nd<\/sup> leg down.<\/li>\n\n\n\n
- If next week is another bull bar, it is likely there will be a small second leg up before the 2nd<\/sup> leg down starts.<\/li>\n\n\n\n
- The market should also test the exponential moving average (EMA) in the next few weeks.<\/li>\n\n\n\n
- If bulls can keep going up from here instead, the body gap close with March 2022 would be a considered a negative gap \u2013 a small overlap and trend resumption up.<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- If next week is another bull bar, it is likely there will be a small second leg up before the 2nd<\/sup> leg down starts.<\/li>\n\n\n\n