On the daily chart, Monday was a good follow-through bar to last Friday\u2019s bull entry bar. The rest of the week was trading range price action. <\/p>\n\n\n\n
So far the month is a big bull bar mostly overlapping last month\u2019s body, but there are still 3 more weeks in the month.<\/p>\n\n\n\n
NASDAQ 100 Emini futures<\/h2>\n\n\n\nThe Weekly<\/em> NASDAQ chart<\/h3>\n\n\n\n![\"Nasdaq](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/NASDAQ-Weekly-back-in-the-area-of-trading-range-from-march-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The week is a bull bar with a bigger tail on top than the bottom.<\/li>\n\n\n\n
- Last week\u2019s report<\/a> had mentioned that bears might wait for a couple of legs higher to sell.<\/li>\n\n\n\n
- Next week will likely start the pullback from the 1st<\/sup> leg up.<\/li>\n\n\n\n
- The market is also back near the inside bear bar from 4 weeks ago that might have had buyers below that then were trapped by the big bear breakout bar.<\/li>\n\n\n\n
- This might be another reason for sellers here.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> NASDAQ chart<\/h3>\n\n\n\n![\"Nasdaq](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/NASDAQ-Daily-spike-and-weak-channel-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The market had a bull trend bar on Monday, but then the rest of the week is pretty weak trading range price action.<\/li>\n\n\n\n
- The three bull trend bars from last Thursday, Friday and Monday this week could represent a spike which then would have two additional legs up.<\/li>\n\n\n\n
- Wednesday went below Tuesday to start the channel phase and ended up as a doji buy signal bar.<\/li>\n\n\n\n
- Thursday was an inside bar. Friday went above Thursday and ended up as a doji bull bar with a long tail above.<\/li>\n\n\n\n
- So far the channel phase of the move up from last week has been very weak.<\/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 week is a bull bar with a bigger tail on top than the bottom.<\/li>\n\n\n\n
- Last week\u2019s report<\/a> had mentioned that bears might wait for a couple of legs higher to sell.<\/li>\n\n\n\n
- Next week will likely start the pullback from the 1st<\/sup> leg up.<\/li>\n\n\n\n
- The market is also back near the inside bear bar from 4 weeks ago that might have had buyers below that then were trapped by the big bear breakout bar.<\/li>\n\n\n\n
- This might be another reason for sellers here.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> NASDAQ chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n- \n
- The market had a bull trend bar on Monday, but then the rest of the week is pretty weak trading range price action.<\/li>\n\n\n\n
- The three bull trend bars from last Thursday, Friday and Monday this week could represent a spike which then would have two additional legs up.<\/li>\n\n\n\n
- Wednesday went below Tuesday to start the channel phase and ended up as a doji buy signal bar.<\/li>\n\n\n\n
- Thursday was an inside bar. Friday went above Thursday and ended up as a doji bull bar with a long tail above.<\/li>\n\n\n\n
- So far the channel phase of the move up from last week has been very weak.<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- Next week will likely start the pullback from the 1st<\/sup> leg up.<\/li>\n\n\n\n