The week is a bull H1 reversal bar with a tail above and a bigger tail below.<\/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\/2024\/02\/NASDAQ-Monthly-bull-doji-bar-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The January month bar is a bull doji bar with prominent tails above and below<\/li>\n\n\n\n
- Bulls reached the targets mentioned in prior monthly report<\/a> \u2013 the close of Nov 2021, the Measured Move (MM) target of the bodies of the May and June 2023 monthly bars.<\/li>\n\n\n\n
- The market also reached a new all-time high last week.<\/li>\n\n\n\n
- At the same time, bulls could not prevent a doji bar. They also could not close above the Nov 2021 close (shown by the red line on the chart).<\/li>\n\n\n\n
- Bears could not prevent a bull close. However, by creating a doji bar that did not close above the Nov 2021 close, bears hope to prevent a breakout above the Nov 2021 close.<\/li>\n\n\n\n
- Bears want to create a big bear bar next month or a series of small bear trend bars or similar doji bars sideways and then try for a move lower.<\/li>\n\n\n\n
- Bulls need the opposite \u2013 they need a big bull bar closing far above the Nov 2021 close, or a series of non-climactic bull trend bars closing above the Nov 2021 close, that will convince buyers that the double-top with Nov 2021 is failing.<\/li>\n\n\n\n
- Minimally, bulls have created a bull micro-channel of 3 bull bodies with lows higher than the prior low.<\/li>\n\n\n\n
- So even if there is a pullback, it is likely that the market will come back to the January close.<\/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\/2024\/02\/NASDAQ-Weekly-h1-bull-reversal-bar-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The week is a H1 bull reversal bar with a long tail below and a tail above.<\/li>\n\n\n\n
- The week closed above the 2021 high close.<\/li>\n\n\n\n
- Since last week was a doji bar with a tail above, it was likely that this week would pullback below its low and be a bear bar.<\/li>\n\n\n\n
- This week went below last week\u2019s low thus triggering the pullback but closed as a bull bar.<\/li>\n\n\n\n
- Bulls now need a good entry bar and follow-through bar. The tail on top of this week\u2019s bar makes that less likely.<\/li>\n\n\n\n
- Bears want to trigger the buy signal bar and then trap the bulls by creating bear bars with follow-through like they did the week of 7\/31\/2023.<\/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<\/div>\n\n\n\n
- \n
- The January month bar is a bull doji bar with prominent tails above and below<\/li>\n\n\n\n
- Bulls reached the targets mentioned in prior monthly report<\/a> \u2013 the close of Nov 2021, the Measured Move (MM) target of the bodies of the May and June 2023 monthly bars.<\/li>\n\n\n\n
- The market also reached a new all-time high last week.<\/li>\n\n\n\n
- At the same time, bulls could not prevent a doji bar. They also could not close above the Nov 2021 close (shown by the red line on the chart).<\/li>\n\n\n\n
- Bears could not prevent a bull close. However, by creating a doji bar that did not close above the Nov 2021 close, bears hope to prevent a breakout above the Nov 2021 close.<\/li>\n\n\n\n
- Bears want to create a big bear bar next month or a series of small bear trend bars or similar doji bars sideways and then try for a move lower.<\/li>\n\n\n\n
- Bulls need the opposite \u2013 they need a big bull bar closing far above the Nov 2021 close, or a series of non-climactic bull trend bars closing above the Nov 2021 close, that will convince buyers that the double-top with Nov 2021 is failing.<\/li>\n\n\n\n
- Minimally, bulls have created a bull micro-channel of 3 bull bodies with lows higher than the prior low.<\/li>\n\n\n\n
- So even if there is a pullback, it is likely that the market will come back to the January close.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> NASDAQ chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n- \n
- The week is a H1 bull reversal bar with a long tail below and a tail above.<\/li>\n\n\n\n
- The week closed above the 2021 high close.<\/li>\n\n\n\n
- Since last week was a doji bar with a tail above, it was likely that this week would pullback below its low and be a bear bar.<\/li>\n\n\n\n
- This week went below last week\u2019s low thus triggering the pullback but closed as a bull bar.<\/li>\n\n\n\n
- Bulls now need a good entry bar and follow-through bar. The tail on top of this week\u2019s bar makes that less likely.<\/li>\n\n\n\n
- Bears want to trigger the buy signal bar and then trap the bulls by creating bear bars with follow-through like they did the week of 7\/31\/2023.<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n