Emini Bulls Want Test of 6,300

Trading Update: Wednesday July 2, 2025

S&P Emini market analysis

Emini daily chart

• The Emini formed a bull inside bar yesterday, closing near its midpoint, late in a bull rally.
• This increases the odds that their sellers will go above yesterday’s high and that the market may have to get a pullback. However, because yesterday’s signal bar was at a high, there’s an increased risk of a pullback followed by a retest of the signal bar’s high.
• The moving average is far away from the current price. The moving average is a reflection of the fair price, which means traders will see the market as expensive.
• This increases the odds of profit taking by the bulls and the market getting closer to the average price.
• The bulls are hopeful that today will form a bull bar closing above yesterday’s high, creating follow-through buying after yesterday’s bull inside bar
• The Bears still have yet to create enough selling pressure to get a clear reversal down. This means that most bears are better off waiting on the sidelines until there is more selling pressure.
• Overall, the market is getting near 6,300, and it may have to reach it before there is a credible pullback.

Emini 5-minute chart and what to expect today

• The Emini formed an opening reversal with bar 2 today and has rallied in a tight bull channel ever since.
• While the rally up to bar 28 is good for the bulls, it’s near the high of an overall trading range on the higher timeframes.
• This increases the odds of the market finding resistance near the current price and testing back down to the bar 15 low, the bottom of the bull channel.
• The Bulls will try to continue the tight bull channel; however, the bears are increasing the selling pressure. This increases the likelihood that the overall day will evolve into a trading range.
• While the bears have done a good job of making the market go sideways, they need to do more than what they’ve done right here. They need to start getting consecutive bear bars and allowing stop order bears to make money.

Yesterday’s Emini setups

Brad created the SP500 Emini charts – Al travelling.

Here are reasonable stop entry setups from yesterday. I show each buy entry bar with a green arrow and each sell entry bar with a red arrow. Buyers of both the Brooks Trading Course and Encyclopedia of Chart Patterns have access to a near 4-year library of more detailed explanations of swing trade setups (see Online Course/BTC Daily Setups). Encyclopedia members get current daily charts added to Encyclopedia.

My goal with these charts is to present an Always In perspective. If a trader was trying to be Always In or nearly Always In a position all day, and he was not currently in the market, these entries would be logical times for him to enter. These therefore are swing entries.

It is important to understand that most swing setups do not lead to swing trades. As soon as traders are disappointed, many exit. Those who exit prefer to get out with a small profit (scalp), but often have to exit with a small loss.

If the risk is too big for your account, you should wait for trades with less risk or trade an alternative market like the Micro Emini.

Summary of today’s S&P Emini price action

Brad created the SP500 Emini charts – Al travelling.

Emini end of day video review

Periodic end of day review videos will be moved to top of page when done.

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See the weekly update for a discussion of the price action on the weekly chart and for what to expect going into next week.

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Trading Room

Al Brooks and other presenters talk about the detailed Emini price action real-time each day in the Brooks Price Action trading room. We offer a 2 day free trial.

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Charts use Pacific Time

When times are mentioned, it is USA Pacific Time. The Emini day session charts begin at 6:30 am PT and end at 1:15 pm PT which is 15 minutes after the NYSE closes. You can read background information on the market reports on the Market Update page.

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