Every day of this short week was a bull bar. The market is also back above the daily exponential moving average (EMA), and 3 consecutive bull closes above EMA on daily chart for the first time since March. Even though the daily chart is in a second leg up since the June low, the second leg up this week is strong enough that there will likely be a third leg up. This should lead to at least slightly higher prices in the next couple weeks.<\/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\/2022\/07\/NASDAQ-Weekly-Two-bar-bull-reversal-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- This week\u2019s Nasdaq Emini<\/strong> candlestick is a bull trend bar. It is a two-bar bull reversal, reversing last week\u2019s bear bar.<\/li>
- The market has tried making two pushes down – week of 6\/13 and week of 6\/27 and both reversed up. So unless there is a bear reversal bar again next week, the market may try in the other direction.<\/li>
- Another positive for the bulls is that the bear bar last week is the first time since March that there hasn’t been a follow-though bear bar. If the bulls get a follow-through bull bar next week, it would be the first time since March that there are two consecutive bull bars.<\/li>
- At the same time, the reversal that started the week of 6\/13 is still likely a minor bull reversal since the 2nd<\/sup> bear leg that ended in May is so steep. The bulls will need a second entry buy after forming a good bull signal bar in the coming weeks.<\/li>
- As mentioned in last week\u2019s report, July will likely be a bull or doji month. So, the bull bar this week is a good start to the month for the bulls.<\/li>
- The next target for bulls is the top of the most recent sell climax \u2013 12899.25 and the weekly EMA in the same area.<\/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 still a viable target.<\/li><\/ul>\n\n\n\n
The Daily<\/em> NASDAQ chart<\/h3>\n\n\n\n![\"Nasdaq](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/NASDAQ-daily-three-consecutive-bull-close-above-ema-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- Friday\u2019s NQ candlestick is a bull trend bar with small tails at the top and bottom.<\/li>
- The market is back up above the daily EMA \u2013 with three consecutive bull closes above it (good for the bulls).<\/li>
- Friday\u2019s bar came close to last week\u2019s high but did not close above it. If it had, it would have been a stronger case for the bulls.<\/li>
- Still, the bull leg this week has been strong enough, that the market should get above last week\u2019s high before it gets below last week\u2019s low.<\/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 week\u2019s Nasdaq Emini<\/strong> candlestick is a bull trend bar. It is a two-bar bull reversal, reversing last week\u2019s bear bar.<\/li>
- The market has tried making two pushes down – week of 6\/13 and week of 6\/27 and both reversed up. So unless there is a bear reversal bar again next week, the market may try in the other direction.<\/li>
- Another positive for the bulls is that the bear bar last week is the first time since March that there hasn’t been a follow-though bear bar. If the bulls get a follow-through bull bar next week, it would be the first time since March that there are two consecutive bull bars.<\/li>
- At the same time, the reversal that started the week of 6\/13 is still likely a minor bull reversal since the 2nd<\/sup> bear leg that ended in May is so steep. The bulls will need a second entry buy after forming a good bull signal bar in the coming weeks.<\/li>
- As mentioned in last week\u2019s report, July will likely be a bull or doji month. So, the bull bar this week is a good start to the month for the bulls.<\/li>
- The next target for bulls is the top of the most recent sell climax \u2013 12899.25 and the weekly EMA in the same area.<\/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 still a viable target.<\/li><\/ul>\n\n\n\n
The Daily<\/em> NASDAQ chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- Friday\u2019s NQ candlestick is a bull trend bar with small tails at the top and bottom.<\/li>
- The market is back up above the daily EMA \u2013 with three consecutive bull closes above it (good for the bulls).<\/li>
- Friday\u2019s bar came close to last week\u2019s high but did not close above it. If it had, it would have been a stronger case for the bulls.<\/li>
- Still, the bull leg this week has been strong enough, that the market should get above last week\u2019s high before it gets below last week\u2019s low.<\/li><\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n