Trading Update: Wednesday November 5, 2025
E-mini end of day video review
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S&P E-mini market analysis
E-mini daily chart
- The E-mini sold off to the October 10th breakout point high yesterday and formed a bear bar closing on its low on the daily chart.
- Well, this is good for the bears; the market has two support levels: the daily moving average and the October 10th high. This increases the odds of buyers and a bounce over the next couple of days.
- The test back to the October 10th high is important because it allows bears who sold above the October 10th high to make money. This increases the odds that the market is evolving into a trading range on the daily chart.
- Because the daily chart has two legs down from the all-time high, it’ll probably get a bounce lasting a couple of days.
- Ultimately, the market will probably test the October 10th close; however, this could take several weeks to happen.
- The daily chart may have to rally for a couple of legs and form a more credible double top with the current all-time high (October 29th).
E-mini 5-minute chart and what to expect today
- The market formed a very small gap down on the open and formed a bear bar closing on its low with bar one.
- Bar 1 closed below yesterday’s lows and got a small second leg down with bar 3.
- However, because of the trading range price action from yesterday’s bar 51 to the end of yesterday, the odds favored a failed breakout below yesterday’s range and reversal up, which the bulls got on bars 4 and 5.
- Bars 4 and 5 are a strong enough bull breakout with follow-through that the odds favor some measured move up based on the bars.
- Because yesterday’s rally from bar 2 all the way to bar 14 formed a strong breakout on a higher time frame, there’s increased risk that the market will have to test up to yesterday’s high later today.
- As a bar 18, the market is always in long and likely to get some second leg. A measured move based on bars 4 and 5.
Yesterday’s E-mini setups
Richard created the SP500 E-mini chart – 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 E-mini.
Summary of today’s S&P E-mini price action
Richard created the SP500 E-mini chart – Al travelling.
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.
