{"id":195963,"date":"2023-12-16T07:00:00","date_gmt":"2023-12-16T15:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=195963"},"modified":"2023-12-15T21:57:14","modified_gmt":"2023-12-16T05:57:14","slug":"nasdaq-100-breakout-attempt-above-july-2023-high","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/nasdaq-100-breakout-attempt-above-july-2023-high\/","title":{"rendered":"Nasdaq 100 Breakout Attempt above July 2023 High"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: NASDAQ 100 Emini Futures<\/h2>\n\n\n\n<p>Note &#8211; I am in the process of moving my Charts off ThinkorSwim. I realized they don&#8217;t handle backadjusting of continuous futures contracts on weekly and monthly timeframes. The main impact of this is specific targets like all-time highs, Measured-move targets mentioned in prior reports.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.investing.com\/indices\/nq-100-futures\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/www.investing.com\/indices\/nq-100-futures\" rel=\"noreferrer noopener\"><strong>NASDAQ Emini<\/strong> futures<\/a> week is a bull trend bar with a small tail above. It is a breakout attempt above July 2023 high.<\/p>\n\n\n\n<p>On the daily chart, the market broke out of the small trading range of the past 2 weeks with bull trend bars that are not climactic.<\/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\/12\/NASDAQ-Weekly-breakout-attempt-above-july-2023-high.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Weekly-breakout-attempt-above-july-2023-high-680x383.jpg\" alt=\"Nasdaq Weekly Breakout Attempt above July 2023 High\" class=\"wp-image-196017\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Weekly-breakout-attempt-above-july-2023-high-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Weekly-breakout-attempt-above-july-2023-high-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Weekly-breakout-attempt-above-july-2023-high-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Weekly-breakout-attempt-above-july-2023-high-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Weekly-breakout-attempt-above-july-2023-high.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The week is bull trend bar with a small tail above.<\/li>\n\n\n\n<li>Last week was a bull reversal bar for the start of the second leg of the spike up in November.<\/li>\n\n\n\n<li>Bulls needed a good entry bar this week, and they got a strong breakout bar breaking out above the July high.<\/li>\n\n\n\n<li>Next the bulls need a good follow-through bar to confirm the breakout.<\/li>\n\n\n\n<li>On the back-adjusted chart, this week is closing the bear gap from the of week of 11\/29\/2021. Bulls need at least one more follow-through bull bar to confirm the bear gap is closed.<\/li>\n\n\n\n<li>The next target for the bulls is the high close of 2021.<\/li>\n\n\n\n<li>Bears want a bar closing below the low of prior bar like they did in July, and then follow-through bars.<\/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\/12\/NASDAQ-Daily-non-climactic-bulls.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Daily-non-climactic-bulls-680x383.jpg\" alt=\"Nasdaq Daily Non-climactic bulls\" class=\"wp-image-196020\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Daily-non-climactic-bulls-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Daily-non-climactic-bulls-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Daily-non-climactic-bulls-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Daily-non-climactic-bulls-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/NASDAQ-Daily-non-climactic-bulls.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Friday is a bull bar closing around the mid-point of the bar.<\/li>\n\n\n\n<li>Monday, Tuesday and Wednesday were good trend non-climactic bull bars breaking out far above the trading range of past 2 weeks.<\/li>\n\n\n\n<li>Bears were hoping for a reversal this week from the top of the trading range reached last Friday.<\/li>\n\n\n\n<li>This week is strong enough that it could be considered a spike again, which means at least 2 more legs up.<\/li>\n\n\n\n<li>The market also reached the Measured Move (MM) of the bodies of the November spike.<\/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 Note &#8211; I am in the process of moving my Charts off ThinkorSwim. I realized they don&#8217;t handle backadjusting of continuous futures contracts on weekly and monthly timeframes. The main impact of this is specific targets like all-time highs, Measured-move targets mentioned in prior reports. The NASDAQ Emini futures [&hellip;]<\/p>\n","protected":false},"author":3331,"featured_media":196017,"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-195963","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\/12\/NASDAQ-Weekly-breakout-attempt-above-july-2023-high.jpg","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\/195963","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=195963"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/195963\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/196017"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=195963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=195963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=195963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}