Nasdaq 100 Bull Breakout to New All-Time Excessive Shut

Market Overview: NASDAQ 100 Emini Futures

The NASDAQ Emini futures week is a shock bull breakout to new all-time excessive shut, simply above the prior all-time excessive.

On the each day chart, the market had a giant bull breakout of the exponential transferring common (EMA) on Wednesday with good follow-through on Thursday after the election outcomes.

NASDAQ 100 Emini futures

The Weekly NASDAQ chart

• The week is a shock bull development bar, breaking out simply above the EMA, and shutting simply above the prior all-time excessive.
• Final week’s report had talked about how the market could be making an attempt to kind a wedge bear flag for the two^nd leg down similar to the massive transfer down in early August.
• Bears wanted a great entry bar to final week’s exterior down reversal bar. As an alternative, bulls created a giant bull bar that’s trying to breakout above the wedge.
• Bulls want a great follow-through bar subsequent week.
• Bears desire a double-top with the July excessive and the breakout to fail and a transfer right down to the August low.

The Each day NASDAQ chart

• The bull channel above the EMA was weakening, with principally doji bars or bars with tails, and consecutive bear development bars final Wednesday and Thursday and a bear development bar shut far beneath EMA on Thursday.
• It was doubtless that there can be not less than a small 2^nd leg down this week.
• Monday began with a doji bear bar, Tuesday was a bull bar as much as the EMA. Wednesday was a giant shock bull development bar breaking above the each day EMA with a great follow-through bar on Thursday.
• Thursday closed at a brand new all-time excessive simply above the prior all-time excessive in July.
• Friday was a doji bar.
• There’ll doubtless be a 2^nd leg as much as the bull transfer.
• Breakout of the EMA with good follow-through often have a great probability of a Measured-move of the dimensions of the our bodies of the 2 bars as proven within the chart.

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