On the daily chart, the market started with a big bull bar on Monday followed by smaller bull bars on Tuesday, Wednesday, and closing the week with doji bars on Thursday and Friday.<\/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\/01\/NASDAQ-Weekly-two-bar-reversal-with-1-1-2024-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The week is a bull trend bar with a small tail above and below.<\/li>\n\n\n\n
- This week reversed the bear bar of the prior week.<\/li>\n\n\n\n
- Last week\u2019s report<\/a> had mentioned that bears need a follow-through bear bar.<\/li>\n\n\n\n
- Bulls needed the opposite \u2013 They need this week to be a bull bar or a doji bar and keep the body gap open. Bulls got a good bull bar.<\/li>\n\n\n\n
- Since this week went above the high of last week, it triggered the H1 buy signal bar of last week.<\/li>\n\n\n\n
- But last week was a big bear trend bar and hence a bad buy signal bar. The week closed below last week\u2019s high as one would expect.<\/li>\n\n\n\n
- Bulls need a good follow-through bar next week closing above this week’s high, but this is less likely for the reason mentioned above.<\/li>\n\n\n\n
- The last monthly report<\/a> mentioned that it is unlikely for January to be a bull bar with a low above last month\u2019s low \u2013 creating a bull micro-channel.<\/li>\n\n\n\n
- So, it\u2019s likely that January is a bear bar, or an inside bull bar or a bar with a low lower than December low.<\/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\/01\/NASDAQ-Daily-pullback-from-pullback-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- Friday is a doji bar closing around the mid-point of the bar.<\/li>\n\n\n\n
- Monday was a big bull trend bar closing above the daily exponential moving average (EMA).<\/li>\n\n\n\n
- Tuesday was a smaller follow-through bar with a tail below. Wednesday was another good non-climactic bull bar.<\/li>\n\n\n\n
- At this point there was a bull micro-channel with the low of last Friday.<\/li>\n\n\n\n
- Sellers came in on Thursday when the market went above the high of last week.<\/li>\n\n\n\n
- Thursday was an outside doji bar, and Friday was an inside doji bar.<\/li>\n\n\n\n
- It is still likely that there will be a leg down corresponding to the leg down the first week of January.<\/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 trend bar with a small tail above and below.<\/li>\n\n\n\n
- This week reversed the bear bar of the prior week.<\/li>\n\n\n\n
- Last week\u2019s report<\/a> had mentioned that bears need a follow-through bear bar.<\/li>\n\n\n\n
- Bulls needed the opposite \u2013 They need this week to be a bull bar or a doji bar and keep the body gap open. Bulls got a good bull bar.<\/li>\n\n\n\n
- Since this week went above the high of last week, it triggered the H1 buy signal bar of last week.<\/li>\n\n\n\n
- But last week was a big bear trend bar and hence a bad buy signal bar. The week closed below last week\u2019s high as one would expect.<\/li>\n\n\n\n
- Bulls need a good follow-through bar next week closing above this week’s high, but this is less likely for the reason mentioned above.<\/li>\n\n\n\n
- The last monthly report<\/a> mentioned that it is unlikely for January to be a bull bar with a low above last month\u2019s low \u2013 creating a bull micro-channel.<\/li>\n\n\n\n
- So, it\u2019s likely that January is a bear bar, or an inside bull bar or a bar with a low lower than December low.<\/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
- Friday is a doji bar closing around the mid-point of the bar.<\/li>\n\n\n\n
- Monday was a big bull trend bar closing above the daily exponential moving average (EMA).<\/li>\n\n\n\n
- Tuesday was a smaller follow-through bar with a tail below. Wednesday was another good non-climactic bull bar.<\/li>\n\n\n\n
- At this point there was a bull micro-channel with the low of last Friday.<\/li>\n\n\n\n
- Sellers came in on Thursday when the market went above the high of last week.<\/li>\n\n\n\n
- Thursday was an outside doji bar, and Friday was an inside doji bar.<\/li>\n\n\n\n
- It is still likely that there will be a leg down corresponding to the leg down the first week of January.<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n