On the daily chart, the market went sideways to up all week to get back above the exponential moving average (EMA). <\/p>\n\n\n\n
The monthly bar is now a bull bar with a prominent tail above. Next week is the last week of the month and a short trading week. Bulls want next week to be a bull bar so the month can close on its high. Bears want next week to be a bear bar so they can end the month as a doji.<\/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\/11\/NASDAQ-Weekly-Bad-Follow-Through-to-Big-Bear-Bar-of-11-11-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The week is a bull reversal trend bar with a small tail below.<\/li>\n\n\n\n
- It can be looked as the first attempt to resume the trend after a breakout attempt 2 weeks ago, and a all-time high last week before the big bear bar.<\/li>\n\n\n\n
- It is a bad follow-through to the big bear bar last week, and signifies that bears are not looking to sell below bars.<\/li>\n\n\n\n
- While bulls have done their part in avoiding a bear follow-through bar this week, the bull reversal bar is in the middle of big bars of the past two weeks.<\/li>\n\n\n\n
- If bulls are buying with a stop above, they want to buy lower in the range, like at the EMA.<\/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\/11\/NASDAQ-Daily-Bulls-Defended-Low-of-Bull-Breakout-11-6-for-Now-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- Bulls have defended the low of the bull breakout bar of 11-6 so far, so the measured move (MM) target shown in the chart above is still in play.<\/li>\n\n\n\n
- Most of the bars this week have tails below showing that bulls are buying lower to prevent a 2nd<\/sup> leg down corresponding to the big leg down last week.<\/li>\n\n\n\n
- The market is also back above the EMA.<\/li>\n\n\n\n
- The market also reached the low of the 11-7 bull bar on Thursday, and did not sell-off much. Last week\u2019s report<\/a> had mentioned that there were likely limit order buyers below 11-7 that were trapped with the big bear bar last week.<\/li>\n\n\n\n
- Monday is a bull inside bar with a tail above showing right away that it was a bad follow-through to the big bear bar of last Friday. Tuesday sold off at the beginning of the day but then reversed to close as an outside up bar.<\/li>\n\n\n\n
- This could be interpreted as the extent of the 2nd<\/sup> leg down for the time being corresponding to the big leg down last week.<\/li>\n\n\n\n
- Wednesday is a doji bear bar with a high above Tuesday and a longer tail below. Thursday is a doji bull bar with a high above Wednesday and another longer tail below.<\/li>\n\n\n\n
- Tuesday through Thursday represents a leg up. Friday is an inside bull buy signal bar likely representing start of next leg up. If Monday triggers the Friday bull bar and closes as a bear bar, Friday would represent a one bar 2nd<\/sup> leg 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<\/div>\n\n\n\n
- \n
- The week is a bull reversal trend bar with a small tail below.<\/li>\n\n\n\n
- It can be looked as the first attempt to resume the trend after a breakout attempt 2 weeks ago, and a all-time high last week before the big bear bar.<\/li>\n\n\n\n
- It is a bad follow-through to the big bear bar last week, and signifies that bears are not looking to sell below bars.<\/li>\n\n\n\n
- While bulls have done their part in avoiding a bear follow-through bar this week, the bull reversal bar is in the middle of big bars of the past two weeks.<\/li>\n\n\n\n
- If bulls are buying with a stop above, they want to buy lower in the range, like at the EMA.<\/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
- Bulls have defended the low of the bull breakout bar of 11-6 so far, so the measured move (MM) target shown in the chart above is still in play.<\/li>\n\n\n\n
- Most of the bars this week have tails below showing that bulls are buying lower to prevent a 2nd<\/sup> leg down corresponding to the big leg down last week.<\/li>\n\n\n\n
- The market is also back above the EMA.<\/li>\n\n\n\n
- The market also reached the low of the 11-7 bull bar on Thursday, and did not sell-off much. Last week\u2019s report<\/a> had mentioned that there were likely limit order buyers below 11-7 that were trapped with the big bear bar last week.<\/li>\n\n\n\n
- Monday is a bull inside bar with a tail above showing right away that it was a bad follow-through to the big bear bar of last Friday. Tuesday sold off at the beginning of the day but then reversed to close as an outside up bar.<\/li>\n\n\n\n
- This could be interpreted as the extent of the 2nd<\/sup> leg down for the time being corresponding to the big leg down last week.<\/li>\n\n\n\n
- Wednesday is a doji bear bar with a high above Tuesday and a longer tail below. Thursday is a doji bull bar with a high above Wednesday and another longer tail below.<\/li>\n\n\n\n
- Tuesday through Thursday represents a leg up. Friday is an inside bull buy signal bar likely representing start of next leg up. If Monday triggers the Friday bull bar and closes as a bear bar, Friday would represent a one bar 2nd<\/sup> leg up.<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n