On the daily chart, bears are taking more control and were able to produce bear bars 4 out of the 5 days.<\/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\/03\/NASDAQ-Weekly-november-2021-close-still-a-magnet-1-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The week is a bear bar with a tail above.<\/li>\n\n\n\n
- It is a small bar compared to the last two weeks.<\/li>\n\n\n\n
- It triggered the sell signal of last week and then closed above last week\u2019s low.<\/li>\n\n\n\n
- The November 2021 close is still in play as it currently represents an open bull body gap.<\/li>\n\n\n\n
- This is the first week since October when bears produced 2 consecutive bear bars, although the last three weeks mostly represent sideways move.<\/li>\n\n\n\n
- Bears need to produce a good bear bar next week far below this week\u2019s low.<\/li>\n\n\n\n
- Bulls want to trap the bears like they have been for past 6 months and have bull bars next week and the following week.<\/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\/03\/NASDAQ-Daily-first-bear-trend-bar-below-ema-since-January-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- Friday is a bear trend bar closing far below the daily exponential moving average (EMA).<\/li>\n\n\n\n
- This is the first good bear close below the EMA since early January.<\/li>\n\n\n\n
- Bears have been getting more control over the past two weeks \u2013 Of the last 10 days, only 3 days have bull bodies.<\/li>\n\n\n\n
- Bears are able to produce consecutive bear bars or 3 bear bars in a row, while bulls are unable to produce consecutive bull bars.<\/li>\n\n\n\n
- As shown in the chart, one can also see nested wedges.<\/li>\n\n\n\n
- So far, the market has not produced consecutive bear trend bars below the EMA since early January.<\/li>\n\n\n\n
- Can bears produce another good bear bar closing far below Friday\u2019s close?<\/li>\n\n\n\n
- There are several magnets below for the bears \u2013\n
\n- The first magnet is the November 2021 high close.<\/li>\n\n\n\n
- The second magnet is the close of 1\/4\/2024 \u2013 which was a bear microchannel that was never sufficiently tested.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Monday was a bear entry bar at the EMA to the large sell signal bar of last Friday.<\/li>\n\n\n\n
- The market found buyers at the EMA, and Tuesday was a bull bar.<\/li>\n\n\n\n
- However, there was no more follow-through.<\/li>\n\n\n\n
- Wednesday and Friday were bear trend days and Thursday was a doji bear day.<\/li>\n\n\n\n
- This week was likely a 2nd<\/sup> leg down to the leg that started on Friday.<\/li>\n\n\n\n
- Wednesday-Friday could itself be considered two legs in its own.<\/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 bear bar with a tail above.<\/li>\n\n\n\n
- It is a small bar compared to the last two weeks.<\/li>\n\n\n\n
- It triggered the sell signal of last week and then closed above last week\u2019s low.<\/li>\n\n\n\n
- The November 2021 close is still in play as it currently represents an open bull body gap.<\/li>\n\n\n\n
- This is the first week since October when bears produced 2 consecutive bear bars, although the last three weeks mostly represent sideways move.<\/li>\n\n\n\n
- Bears need to produce a good bear bar next week far below this week\u2019s low.<\/li>\n\n\n\n
- Bulls want to trap the bears like they have been for past 6 months and have bull bars next week and the following week.<\/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 bear trend bar closing far below the daily exponential moving average (EMA).<\/li>\n\n\n\n
- This is the first good bear close below the EMA since early January.<\/li>\n\n\n\n
- Bears have been getting more control over the past two weeks \u2013 Of the last 10 days, only 3 days have bull bodies.<\/li>\n\n\n\n
- Bears are able to produce consecutive bear bars or 3 bear bars in a row, while bulls are unable to produce consecutive bull bars.<\/li>\n\n\n\n
- As shown in the chart, one can also see nested wedges.<\/li>\n\n\n\n
- So far, the market has not produced consecutive bear trend bars below the EMA since early January.<\/li>\n\n\n\n
- Can bears produce another good bear bar closing far below Friday\u2019s close?<\/li>\n\n\n\n
- There are several magnets below for the bears \u2013\n
- \n
- The first magnet is the November 2021 high close.<\/li>\n\n\n\n
- The second magnet is the close of 1\/4\/2024 \u2013 which was a bear microchannel that was never sufficiently tested.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Monday was a bear entry bar at the EMA to the large sell signal bar of last Friday.<\/li>\n\n\n\n
- The market found buyers at the EMA, and Tuesday was a bull bar.<\/li>\n\n\n\n
- However, there was no more follow-through.<\/li>\n\n\n\n
- Wednesday and Friday were bear trend days and Thursday was a doji bear day.<\/li>\n\n\n\n
- This week was likely a 2nd<\/sup> leg down to the leg that started on Friday.<\/li>\n\n\n\n
- Wednesday-Friday could itself be considered two legs in its own.<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- Wednesday-Friday could itself be considered two legs in its own.<\/li>\n<\/ul>\n\n\n\n