Since the May month is a doji bar with a big tail below it, the market is unlikely to break below it. So even with a good bear bar for the month of June, it\u2019s more likely that July will disappoint the bears by being a bull bar or a doji bar. The market may test below the June bar to see if there are more buyers or sellers. Likely, sellers will wait to sell higher. The bulls will also buy to try and create a double bottom with May.<\/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\/2022\/07\/NASDAQ-monthly-bear-trend-bar-after-doji-bar-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- This month\u2019s candlestick is a bear trend bar. It\u2019s the 3rd<\/sup> consecutive bear bar closing below the exponential moving average (EMA), and a four-bar bear micro channel.<\/li>
- The market is at the bottom of the bull channel that started in November 2020. This is another reason for the market to go sideways to up for the next several months.<\/li>
- The next target for bulls is the top of the most recent sell climax \u2013 12899.25.<\/li>
- The bears would still like to make their target at the measured move (MM) down of the double bottom (DB) on monthly chart at 10946.25. This is right around the low of the November month mentioned above. This is still a viable target.<\/li><\/ul>\n\n\n\n
The Weekly<\/em> NASDAQ chart<\/h3>\n\n\n\n![\"Nasdaq](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/NASDAQ-Weekly-Two-bar-bear-reversal-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- This week\u2019s NQ candlestick is a bear bar closing below its midpoint, with a small tail at the bottom.<\/li>
- This week was pretty important in deciding the shape of the monthly bar, just like the last week of May being a big bull bar helped make May a doji bar. With the week being a fairly good bear bar, it helped make the June month a bear trend bar.<\/li>
- This week\u2019s body has a big overlap with last week\u2019s bull bar, so acts like a two-bar reversal.<\/li>
- The market has essentially been in a trading range for the last 8 weeks. What is not clear is where is the top and bottom of the range is. One reasonable assumption is that the top is somewhere near the 5\/30 high\/weekly EMA, and the bottom somewhere near the 6\/13 low.<\/li>
- As mentioned in last week\u2019s report, the bull reversal last week is a minor reversal. There have been only 2 bull bars in the last 13 weeks. Bulls will need a 2nd<\/sup> entry buy after forming a good bull signal bar in the coming weeks.<\/li><\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- This month\u2019s candlestick is a bear trend bar. It\u2019s the 3rd<\/sup> consecutive bear bar closing below the exponential moving average (EMA), and a four-bar bear micro channel.<\/li>
- The market is at the bottom of the bull channel that started in November 2020. This is another reason for the market to go sideways to up for the next several months.<\/li>
- The next target for bulls is the top of the most recent sell climax \u2013 12899.25.<\/li>
- The bears would still like to make their target at the measured move (MM) down of the double bottom (DB) on monthly chart at 10946.25. This is right around the low of the November month mentioned above. This is still a viable target.<\/li><\/ul>\n\n\n\n
The Weekly<\/em> NASDAQ chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- This week\u2019s NQ candlestick is a bear bar closing below its midpoint, with a small tail at the bottom.<\/li>
- This week was pretty important in deciding the shape of the monthly bar, just like the last week of May being a big bull bar helped make May a doji bar. With the week being a fairly good bear bar, it helped make the June month a bear trend bar.<\/li>
- This week\u2019s body has a big overlap with last week\u2019s bull bar, so acts like a two-bar reversal.<\/li>
- The market has essentially been in a trading range for the last 8 weeks. What is not clear is where is the top and bottom of the range is. One reasonable assumption is that the top is somewhere near the 5\/30 high\/weekly EMA, and the bottom somewhere near the 6\/13 low.<\/li>
- As mentioned in last week\u2019s report, the bull reversal last week is a minor reversal. There have been only 2 bull bars in the last 13 weeks. Bulls will need a 2nd<\/sup> entry buy after forming a good bull signal bar in the coming weeks.<\/li><\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n