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E-Mini Bulls Need a Credible Bottom

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Trading Update: Wednesday November 19, 2025

S&P E-mini market analysis

E-mini daily chart

  • The Emini yesterday formed a bear bar that closed near its midpoint. This was a weak bar for the bears following a test of the October 10th bear breakout bar close.
  • The bulls will see this as a 2nd leg down with the November 7th low. Next, the bulls want a reversal up and a failed breakout below the November 7th low.
  • If the bulls can stabilize the market, there will be an increased risk of a bottom and reversal up to a new All-time high and a test of the 7,000 big round number.
  • The bears are hopeful that the market will break out strongly below the October 10th low and that the market will get some measured move down. While this is possible, the odds are more likely that the bulls will get a reversal up.

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

  • Today rallied, forming a bull trend from the open and testing up to the 6,700 round number. This was a strong enough rally for the bulls to expect a 2nd leg up. The bulls tried to get a lower high and find buyers near the bar 17 low, which was near the midpoint of the rally up to bar 9.
  • Instead, the bears formed a strong downside breakout, and the market sold off down to the low of the day.
  • Because the rally was strong and lasted for several bars, the odds were against the bears getting a bear trend day and a measured move down of the opening range.
  • The bears tried to break below bar 1 during bar 38; however, the bears failed, and the bulls formed a strong bull reversal bar.
  • Bar 39 is important because it increases the odds that the bulls are going to get a rally lasting a couple of legs and possibly a test of the midpoint of the rally that began on bar 1.

Yesterday’s E-mini setups

SP500 E-mini 5-Min Trading Range Day within Daily Chart Bear Channel

Richard created the SP500 E-mini chart. (Note: EMA interval incorrectly set at 14.)

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 Bull Trend from Open Reversal Then Trading Range

Richard created the SP500 E-mini chart. (Note: EMA interval incorrectly set at 14.)

E-mini end of day video review

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

EURUSD Forex market analysis

EURUSD Forex daily chart

  • The EURUSD rallied in a 7-bar bull microchannel up to the November 13th high. While this was good for the bulls, it had many overlapping bars. This increased the odds of a possible parabolic wedge top and a reversal down to the November 4th low.
  • The bears formed three consecutive bear bars down to yesterday, and the bears formed a strong downside breakout bar today.
  • The bears are hopeful that tomorrow will form follow-through selling and the market will fall for a measured move down of the November 13th rally and test down to 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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