Trading Update: Monday November 3, 2025
S&P E-mini market analysis
E-mini daily chart
- The E-mini has formed three consecutive bear bars above the October 10th breakout point high. This is a sign that the bulls are losing momentum, and the market will probably test back down to the October 10th breakout point high.
- The bulls still see the market as a bull channel and therefore a bull trend. While the bears are doing a good job of increasing the selling pressure, the reality is that they need to test below the October 10th major higher low.
- At a minimum, the Bears need to continue to make the market go sideways. The bulls know that they’re buying late in a bull trend. As a result, if the market continues to trade sideways, more and more bulls will exit, anticipating a pullback and a transition into a trading range.
- It’s possible that the market has to get up to 7,000 before the market will get a pullback in a test of the October 10th breakout point high, as well as the close of the bar.
- Because 7,000 is such an obvious round number that’s important, the market may be unable to escape the gravitational pull of 7,000. This means that there’s a reasonable chance the market will need to test up to 7,000 before it can achieve a reasonable pullback.
E-mini 5-minute chart and what to expect today
- Today gapped up and formed a bear trend from the open, forming three consecutive bear bars, closing near their lows. This was strong enough that the odds favored a second leg down, which the Bears reached 13 low at the bar.
- While the first 12 bars were good for the Bears, they were within an overall trading range established last Friday. This increased the odds of reversal.
- The Bulls also had a reasonable buy signal bar above the bar 8 high. Because the day was likely a trading range day and not a bear trend, you’ll have bulls buying above bar 8 and scaling in lower. This increased the probability that bulls who bought above bar 8 and subsequently sold at a lower price were likely to make money, which they did during bar 18.
- As of bar 25, the market is deciding if the bears are strong enough to get a second leg down below the low of the day, bar 13. The Bulls are hopeful that the rally above bar 13 is an endless pullback that will lead to a test of the bar one low and the open of the day.
- Due to the sell-off down to bar 13, today is more likely to be a bearish trend or a trading range day, rather than a bullish trend day.
Friday’s E-mini setups
Richard created the SP500 E-mini chart – Al travelling.
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 E-mini.
Summary of today’s S&P E-mini price action
Richard created the SP500 E-mini chart – Al travelling.
E-mini end of day video review
Periodic end of day review videos will be moved to top of page when done.
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.
