Trading Update: Wednesday July 9, 2025
Emini end of day video review
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S&P Emini market analysis
Emini daily chart
- The Emini formed a bear inside bar yesterday. This is a High 1 buy signal bar late in a bull rally and increases the odds of sellers above.
- The market is far from the moving average, which is a sign that the market is getting expensive for the bulls.
- This means that bulls will see the risk as getting big, and they will consider looking to take partial profits to reduce risk.
- This further increases the odds of sellers above yesterday’s inside bar.
- Even though the odds favor sellers above, there are probably buyers near the moving average on any pullback, and this will reduce the downside potential.
- The Bears need to do more than what they’ve done over the past couple of days if they’re going to get a successful reversal down.
- Currently, because of the 9-bar bull micro channel that just happened, the odds favor buyers blowing in at least a brief attempt at a second leg up.
Emini 5-minute chart and what to expect today
- Today gapped up and formed a bull trend from the open that reversed on bar 5.
- The Bears managed to get an endless pullback and a strong downside breakout with bar 12, leading to a sell-off and test of yesterday’s close.
- Because of the rally on the first 4 bars of the day, which lowers the probability of today becoming a bear trend day and increases the likelihood of a trading range day.
- Bulls are hoping that they can get a reversal up with bars 23 and 24. However, the odds are more likely to favor a trading range. This means that any reversal up will likely be minor.
- The open of the day is a logical magnet for the market’s test, and it will probably get there over the next several bars
- The opening of the day is a logical magnet for the market’s test, and it will probably get there over the next several bars.
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.
EURUSD Forex market analysis
EURUSD Forex daily chart
- The EURUSD formed a type of channel up to the July 1 high. This was a sign of strong buying. However, the market was getting far from the moving average, which reduced the odds of a pullback.
- The bears have managed to get a pullback ever since the July 1st high. The market is currently testing the moving average and the June 12th breakout point high.
- Bears are hoping that they can get a major reversal down. However, with all the buying pressure, they first need to create a sideways market and build more selling pressure before they can capitalize on a strong reversal down.
- The sell-off over the past 5 days is enough to disappoint the bulls, but it’s not enough to create a major reversal down.
See the weekly update for a discussion of the price action on the weekly chart and for what to expect going into next week.
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.
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.
