On the daily chart, the market continues its bull channel phase above the exponential moving average (EMA).<\/p>\n\n\n\n
The month is a doji bull bar with a close around last month high. The high of this month is around the midpoint of the upper tail of July.<\/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\/10\/NASDAQ-Weekly-Weak-Third-Leg-up-From-8-5-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The week is a doji bull bar.<\/li>\n\n\n\n
- It is a bad follow-through bar to the entry bar of last week. It shows that the move up since August is weakening as the market is approaching the previous highest close of 7-1.<\/li>\n\n\n\n
- Next week will likely pullback below the low of this week, to signify the end of another leg.<\/li>\n\n\n\n
- Bulls need a big breakout bar above the 7-1 close with good follow-through. This is unlikely, as there should be sellers at the 7-1 bull close.<\/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\/10\/NASDAQ-Daily-Bull-Channel-Continued-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The market continues its channel above the exponential moving average (EMA), with a mix of trend days and more trading range days.<\/li>\n\n\n\n
- Monday was a bull bar above Friday\u2019s inside bar representing a 2nd<\/sup> leg up from the 1st<\/sup> leg early last week. Tuesday was a bear bar going below Monday\u2019s low, representing the end of the 2nd<\/sup> leg up. Wednesday was a bad follow-through doji bar and another buy signal bar. Thursday was a bad entry bar with a long tail above. Friday was a small inside bar.<\/li>\n\n\n\n
- The early part of next week will likely trigger the Friday inside bar and repeat something like this week where the middle-2nd<\/sup> half of the week is a leg down.<\/li>\n\n\n\n
- Bears are able to produce bear trend bars, but no follow-through.<\/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 doji bull bar.<\/li>\n\n\n\n
- It is a bad follow-through bar to the entry bar of last week. It shows that the move up since August is weakening as the market is approaching the previous highest close of 7-1.<\/li>\n\n\n\n
- Next week will likely pullback below the low of this week, to signify the end of another leg.<\/li>\n\n\n\n
- Bulls need a big breakout bar above the 7-1 close with good follow-through. This is unlikely, as there should be sellers at the 7-1 bull close.<\/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 continues its channel above the exponential moving average (EMA), with a mix of trend days and more trading range days.<\/li>\n\n\n\n
- Monday was a bull bar above Friday\u2019s inside bar representing a 2nd<\/sup> leg up from the 1st<\/sup> leg early last week. Tuesday was a bear bar going below Monday\u2019s low, representing the end of the 2nd<\/sup> leg up. Wednesday was a bad follow-through doji bar and another buy signal bar. Thursday was a bad entry bar with a long tail above. Friday was a small inside bar.<\/li>\n\n\n\n
- The early part of next week will likely trigger the Friday inside bar and repeat something like this week where the middle-2nd<\/sup> half of the week is a leg down.<\/li>\n\n\n\n
- Bears are able to produce bear trend bars, but no follow-through.<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- The early part of next week will likely trigger the Friday inside bar and repeat something like this week where the middle-2nd<\/sup> half of the week is a leg down.<\/li>\n\n\n\n