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Emini Buyers below Weak Low 1 Signal Bar

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Trading Update: Monday March 3, 2025

Emini end of day video review

Emini EOD Review Joseph Imbornone

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

S&P Emini market analysis

Emini daily chart

  • The Emini formed a downside breakout below last Wednesday’s weak low 1 short and found buyers below. Because the market retested last Wednesday’s Low 1 sell signal bar, it allowed the scale in bull to make money.
  • This is trading range price action and a warning that the selloff is not as strong as it could be.
  • The Bulls are hopeful that last Friday’s reversal up is strong enough to get a 2nd leg up.
  • The Bulls want to form a strong enough bar closing on its high today. This would further trap the bears who sold last Thursday’s bear breakout.
  • The most important thing to remember is that the daily chart has been in a trading range for several months. This means that bulls and bears are likely to be disappointed.
  • Friday’s reversal up was strong enough that the Bulls will probably get at least a small 2nd leg up. This means buyers are probably below today’s low, even if it is a weak bull bar. The bulls are hopeful that today will become a strong entry bar. However, this is unlikely.

Emini 5-minute chart and what to expect today

  • The Emini gapped up above last Friday’s close, and the market reversed down with bar 2. The odds favor the gap getting closed.
  • The bulls hope bars 2-3 are a pullback leading to higher prices.
  • While this is possible, a trading range is more likely, and the market will likely go sideways.
  • Most traders will be better off waiting for 6-12 bars before placing a trade. This is because there is an 80% chance of a trading range open and only a 20% chance of a trend from the open.
  • The bears are hopeful for a trend from the open with bar 1. While this is possible, it is not likely. Bears so far have not done enough.
  • Because the market gapped up, the bulls will expect at least a small 2nd leg up. This means the market will probably go one tick above the bar 1 high sometime during the first two hours of the session.
  • The bears have a bear breakout and follow-through on bars 2-3. This increases the odds of at least a small 2nd leg down. This will cause bulls to hesitate until they see the bears get their second leg.

Friday’s Emini setups

SP500 Emini 5-Min Chart Bear Trap TRading Range Midday HL DB

Al created the SP500 Emini charts.

Here are reasonable stop entry setups from Friday. 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

SP500 Emini 5-Min Chart Sell Climax and Then Bear Channel

Al created the SP500 Emini charts.

EURUSD Forex market analysis

EURUSD Forex daily chart

  • The EURUSD formed a strong reversal following last week’s bear breakout and follow-through.
  • The February 28th follow-through bar for the bears was weak and was a possible second leg down with the February 19th selloff.
  • Today’s reversal up is a surprise, which increases the odds of a 2nd leg up. The bulls are hopeful that today will form a strong bull breakout bar closing on its high. Next, the bulls will want a strong follow-through tomorrow.
  • The reversal up is strong enough to increase the odds of a test up to the December 6th high.

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 BrooksPriceAction.com trading room days. 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.

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