Nasdaq 100 CC Bull Shut above March Excessive Shut

Market Overview: NASDAQ 100 Emini Futures

The NASDAQ Emini futures week is a bull bar with a distinguished tail above. The market had a CC bull shut above March excessive shut and a brand new all-time excessive shut. Be aware: CC is an abbreviation for consecutive.

On the every day chart, this week was the channel section of what seems like a brand new spike final week.

To this point, the month is a fair larger bull bar than final week. Final week’s report talked about that the month-to-month bar is already massive so it’s extra probably for some sideways transfer into the top of the month. Subsequent week is the final week of the month, so it’s extra probably for subsequent week to be a doji/bear bar than a bull development bar.

NASDAQ 100 Emini futures

The Weekly NASDAQ chart

• The week is a bull bar with a distinguished tail on the high.
• The week is a consecutive bull shut above the March excessive shut and one other new all-time excessive shut.
• It is usually one other week within the bull micro-channel.
• The bull micro-channel means market will probably come again to this week’s shut, even when it pulls again from right here.
• Bulls want the subsequent week to be one other good bull bar to persuade merchants the market is breaking out of the buying and selling vary from March.

The Day by day NASDAQ chart

• Final week’s report had talked about that the leg up was robust sufficient that there ought to probably be one other leg up. This week was the second leg and the beginning of three^rd leg up.
• Monday is a bull development bar and Tuesday is a follow-through bull bar. Wednesday is a doji bar. Thursday is a giant outdoors down bar marking the top of the 2nd leg, and Friday is an inside bull bar overlapping with Friday probably beginning the three^rd leg up.
• Subsequent week is more likely to have extra sideways to down bars because the abstract above says that subsequent week is extra more likely to be a doji/bear bar.

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