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E-mini Bears Want Test of September 2nd Low

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Trading Update: Tuesday September 9, 2025

E-mini end of day video review

Emini EOD Review Joseph Imbornone

Follow Joseph’s YouTube channel for more Al Brooks price action analysis.

S&P E-mini market analysis

E-mini daily chart

  • The Emini formed a weak bull inside bar yesterday following last Friday’s outside down bar. Yesterday’s bar is small, which increases the risk of sellers being above in sideways trading.
  • The bears need to develop more selling pressure if they are going to get a reversal down and test the September 2nd low.
  • The bulls see the market in a bull channel, making higher lows and higher highs, and they are hopeful that they can prevent the market from falling below the September 2nd low.
  • However, realistically, the market is evolving into a trading range, which means the odds favor a test of the September 2nd low.
  • Because the channel up was tight to last Friday’s high, the market may have to go sideways for several bars and form a second entry before the bears can get down to the September 2nd low.
  • Overall, the daily chart is likely evolving into a trading range, which means there is likely profit-taking at every new high and the market will begin to probe prior higher lows.

E-mini 5-minute chart and what to expect today

  • The open of the U.S. session formed little to no gap and went sideways for the first 12 bars.
  • The bears formed a strong downside breakout on Bar 13. However, the follow-through on 14 and 15 was weak, and the market was testing yesterday’s lows.
  • This increased the risk of buyers below yesterday’s low in the 60-minute moving average and reversal up.
  • The bulls who bought the 12-low and more lower during 13 were able to make money on the rally up to bar 18. This is a reminder that the market is in a trading range and likely not the start of a bear trend.
  • Because bar 13 is a large bear trend bar, the Bears may get a second leg down. This means that bar 18 might be a deep pullback that leads to a test of the bar 15 low later today.
  • Today has had a lot of trading range price action. This increases the risk that the rest of the day will have a lot of trading range price action. And if today is going to become a trend day, it will likely become a trending trading range day.
  • The rally up to bar 17 is good for the bulls. However, the problem with the bulls is that the bar 15 buy signal bar is a doji, following the bar 13 bear breakout. Both of these reasons increase the risk of a pullback after bar 18 in a test of the bar 13 close or a test of the bar 15 low.

Yesterday’s E-mini setups

SP500 E-mini 5-Min Trading Range Day

Al created the SP500 E-mini charts.

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 E-mini.

Summary of today’s S&P E-mini price action

SP500 E-mini 5-Min Bear Trap Then Small Pullback Bull Trend

Al created the SP500 E-mini charts.

EURUSD Forex market analysis

EURUSD Forex daily chart

  • The EURUSD has been in a tight trading range that is sloping up. The bulls formed consecutive trend bars over the past two trading days.
  • The Bears are hopeful that today will form a reversal down and a double top with the July 24th high.
  • Next, the bears want strong follow-through over the next couple of days in a test of the July lows.
  • The Bulls are hopeful that today is a pullback from the past two bull trend days. Next, they want a 2nd leg up and a breakout above the July high. More likely, the daily chart is in a trading range, and the best will try to get a test of the July 30th low.

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 E-mini price action real-time each day in the Brooks Trading Course trading room. We offer a 2 day free trial.

Charts use Pacific Time

When times are mentioned, it is USA Pacific Time. The E-mini 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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