{"id":119354,"date":"2021-08-08T01:30:00","date_gmt":"2021-08-08T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=119354"},"modified":"2021-08-08T04:33:47","modified_gmt":"2021-08-08T11:33:47","slug":"emini-7-bull-bar-streak","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-7-bull-bar-streak\/","title":{"rendered":"Emini 7 bull bar streak on monthly chart should end by September"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"0-weekend-report-co-author-andrew-a\">Weekend report co-author Andrew A.<\/h5>\n\n\n<div style=\"max-width: -moz-fit-content\" class=\"wp-block-ub-table-of-contents-block ub_table-of-contents\" id=\"ub_table-of-contents-9aa43ed0-5f8b-4a4c-9cd7-939875c33376\" data-linktodivider=\"false\" data-showtext=\"show\" data-hidetext=\"hide\" data-scrolltype=\"auto\" data-enablesmoothscroll=\"false\" data-initiallyhideonmobile=\"false\" data-initiallyshow=\"true\"><div class=\"ub_table-of-contents-header-container\" style=\"\">\n\t\t\t<div class=\"ub_table-of-contents-header\" style=\"text-align: left; \">\n\t\t\t\t<div class=\"ub_table-of-contents-title\" style=\"\">Weekend report table of contents  <\/div>\n\t\t\t\t<div class=\"ub_table-of-contents-header-toggle\">\n\t\t\t<div class=\"ub_table-of-contents-toggle\" style=\"\">\n\t\t\t\u00a0[<a class=\"ub_table-of-contents-toggle-link\" href=\"#\" style=\"\">hide<\/a>]\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><div class=\"ub_table-of-contents-extra-container\" style=\"\">\n\t\t\t<div class=\"ub_table-of-contents-container ub_table-of-contents-1-column \">\n\t\t\t\t<ul style=\"\"><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-7-bull-bar-streak\/#1-market-overview-weekend-market-analysis\" style=\"\">Market Overview: Weekend Market Analysis<\/a><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-7-bull-bar-streak\/#2-eurusd-forex-market-\" style=\"\">EURUSD Forex market<\/a><ul><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-7-bull-bar-streak\/#3-the-eurusd-weekly-chart\" style=\"\">The EURUSD weekly chart<\/a><\/li><\/ul><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-7-bull-bar-streak\/#4-sampp500-emini-futures\" style=\"\">S&amp;P500 Emini futures<\/a><ul><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-7-bull-bar-streak\/#5-the-monthly-emini-chart\" style=\"\">The Monthly Emini chart<\/a><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-7-bull-bar-streak\/#6-the-weekly-sampp500-emini-futures-chart\" style=\"\">The Weekly S&amp;P500 Emini futures chart<\/a><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-7-bull-bar-streak\/#7-the-daily-sampp500-emini-futures-chart\" style=\"\">The Daily S&amp;P500 Emini futures chart<\/a><\/li><\/ul><\/li><\/ul>\n\t\t\t<\/div>\n\t\t<\/div><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"1-market-overview-weekend-market-analysis\">Market Overview: Weekend Market Analysis<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>SP500 Emini<\/strong> futures monthly chart 7 bull bar streak continues to slightly favor sideways to upside, but profit taking activity can begin at any moment. Bulls need follow through buying next week while bears wants a failed breakout from the tight trading range.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>EURUSD <\/strong>Forex triggered a Low 1 sell signal and closed near the lows. Odds slightly favor sideways to downside to test the lows of the yearlong trading range areas.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"2-eurusd-forex-market-\">EURUSD Forex market <\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3-the-eurusd-weekly-chart\">The EURUSD <em>weekly<\/em> chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/EURUSD-Forex-low-1-sell-signal-tesing-bottom-of-trading-range.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/EURUSD-Forex-low-1-sell-signal-tesing-bottom-of-trading-range.png\" alt=\"EURUSD Forex low 1 sell signal tesing bottom of trading range\" class=\"wp-image-119516\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/EURUSD-Forex-low-1-sell-signal-tesing-bottom-of-trading-range.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/EURUSD-Forex-low-1-sell-signal-tesing-bottom-of-trading-range-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/EURUSD-Forex-low-1-sell-signal-tesing-bottom-of-trading-range-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/EURUSD-Forex-low-1-sell-signal-tesing-bottom-of-trading-range-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/EURUSD-Forex-low-1-sell-signal-tesing-bottom-of-trading-range-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The EURUSD Forex weekly chart traded below last week\u2019s low triggering a Low 1 sell signal from a Double Top Bear Flag with July 6<sup>th<\/sup> high.<\/li><li>Bulls failed to get follow-through buying after last week&#8217;s bull bar. Instead of trading above last week&#8217;s high, this week traded below its low. Last week was a small bull trap.<\/li><li>While last week was a High 1 buy signal, it came in a 9-bar bear micro channel. The reversal up was likely to be minor. Traders had been selling below the high of the prior week for 8 weeks. They were eager to have an opportunity to sell above the high of the prior week.<\/li><li>The bears want a strong break below the November 2020 low, which is the bottom of the yearlong trading range and the neckline of the head and shoulders top.<\/li><li>They then want a 700-pip measured move down to last year\u2019s low.<\/li><li>However, trading ranges resist breaking out. Consequently, if there is a break below the November low, it will probably fail within a few weeks.<\/li><li>Since this week closed at the lows, EURUSD should trade  sideways to down next week as it continues to test the low of the yearlong trading range.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"4-sampp500-emini-futures\">S&amp;P500 Emini futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"5-the-monthly-emini-chart\">The <em>Monthly<\/em> Emini chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-monthly-candlestick-chart-has-streak-of-7-consecutive-bull-bars-1.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-monthly-candlestick-chart-has-streak-of-7-consecutive-bull-bars-1.png\" alt=\"Emini monthly candlestick chart has 7 bull bar streak that should end by September.\" class=\"wp-image-119472\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-monthly-candlestick-chart-has-streak-of-7-consecutive-bull-bars-1.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-monthly-candlestick-chart-has-streak-of-7-consecutive-bull-bars-1-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-monthly-candlestick-chart-has-streak-of-7-consecutive-bull-bars-1-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-monthly-candlestick-chart-has-streak-of-7-consecutive-bull-bars-1-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-monthly-candlestick-chart-has-streak-of-7-consecutive-bull-bars-1-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>So far, August is a small bull bar trading slightly above July&#8217;s high.<\/li><li>In the 25-year history of the Emini, there have been only 2 times when there were 7 consecutive bull bars on the monthly chart. If August remains a bull bar, this would be the 3<sup>rd<\/sup> time. There has never been a streak of 8 consecutive bull bars so August or September should be a bear bar.<\/li><li>If either of them is, the yearlong rally will be a parabolic wedge. That should lead to 2 to 3 months of sideways to down trading.<\/li><li>But, because the bull trend is so strong, traders will buy the pullback, even if it is 20%.<\/li><li>The bears have not yet been able to create a bear bar or even a bull bar with a prominent tail on top for 6 months.&nbsp;<\/li><li>Sometimes in a buy vacuum, sellers stop selling until the price reaches measured moves and targets above.<\/li><li>The next measured move is 4537 (not shown) based on the height of the pandemic.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"6-the-weekly-sampp500-emini-futures-chart\">The <em>Weekly<\/em> S&amp;P500 Emini futures chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-weekly-chart-tight-bull-channel.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-weekly-chart-tight-bull-channel-680x383.png\" alt=\"\" class=\"wp-image-119576\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-weekly-chart-tight-bull-channel-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-weekly-chart-tight-bull-channel-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-weekly-chart-tight-bull-channel-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-weekly-chart-tight-bull-channel-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-weekly-chart-tight-bull-channel.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The Emini weekly bar closed above the top of a 5-week tight trading range. However, the bar was small and therefore the breakout so far is not strong.<\/li><li>It has been in a Small Pullback Bull Trend for more than 60 bars, which is unusual, and therefore unsustainable and climactic.<\/li><li>A Small Pullback Bull Trend ends with a big pullback. The biggest pullback so far was the 10% selloff in September. A bigger pullback means 15 to 20%.<\/li><li>The bears have not been able to create strong bear bars or consecutive bear bars.<\/li><li>There are also no prominent tails above bars. This means the bulls have been buying into closes, and they do that because they expect the next bar to be higher.<\/li><li>The move up is in a tight bull channel which is also a sign of strength for the bulls.<\/li><li>Until the bulls aggressively take profits, the bears will not sell. The bears need to see one or more big bear bars before they will look for a 2-to 3-month correction.<\/li><li>Until then, traders will continue to bet on higher prices and that every reversal attempt will fail.<\/li><li>The next targets for the bulls are the 4537 measured move based on the height of the pandemic sell-off and the top of the trend channel line around 4600.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"7-the-daily-sampp500-emini-futures-chart\">The <em>Daily<\/em> S&amp;P500 Emini futures chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-SP500-daily-candlestick-chart-has-weak-breakout-above-possible-final-bull-flag.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-SP500-daily-candlestick-chart-has-weak-breakout-above-possible-final-bull-flag.png\" alt=\"Emini S&amp;P500 daily candlestick chart has weak breakout above possible final bull flag\" class=\"wp-image-119519\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-SP500-daily-candlestick-chart-has-weak-breakout-above-possible-final-bull-flag.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-SP500-daily-candlestick-chart-has-weak-breakout-above-possible-final-bull-flag-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-SP500-daily-candlestick-chart-has-weak-breakout-above-possible-final-bull-flag-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-SP500-daily-candlestick-chart-has-weak-breakout-above-possible-final-bull-flag-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/08\/Emini-SP500-daily-candlestick-chart-has-weak-breakout-above-possible-final-bull-flag-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The S&amp;P 500 Emini broke above a tight trading range late in a bull trend so the trading range might be the Final Bull Flag.<\/li><li>Small breakout to new all-time high and above the 10-day tight trading range.<\/li><li>The bulls need follow-through buying next week to increase the odds of a 60-point measured move up, based on the height of the trading range.<\/li><li>If the rally reaches the measured move up around 4500, it will break the trend channel line. A break above a bull channel has a 75% chance of starting to reverse down to the bottom of the channel (bull trend line, not shown) within about 5 bars.<\/li><li>The bears want the breakout above the 10-day tight trading range to fail. If any breakout is going to fail, it should do so within about 5 bars. <\/li><li>While the trend has been overextended and extreme, bulls continue to bet on higher prices because they know that in a strong trend, most reversal attempts fail.<\/li><li>Traders need to see aggressive profit-taking and consecutive strong bear bars before they will be willing to short aggressively.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"8-trading-room\">Trading Room<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Traders can see the end of the day <a rel=\"noreferrer noopener\" href=\"http:\/\/www.brookspriceaction.com\/profile.php?mode=profil&amp;sub=profile_prefer&amp;mod=0\" target=\"_blank\">bar-by-bar price action report by signing up<\/a> for free at BrooksPriceAction.com. I talk about the detailed Emini price action real-time throughout the day in the BrooksPriceAction.com <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\" target=\"_blank\">trading room<\/a>. We offer a <a rel=\"noreferrer noopener\" href=\"http:\/\/www.brookspriceaction.com\/portal.php?page=11\" target=\"_blank\">2 day free trial<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"9-weekly-reports-archive\">Weekly Reports Archive<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You can access all weekly reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Weekend report co-author Andrew A. Market Overview: Weekend Market Analysis The SP500 Emini futures monthly chart 7 bull bar streak continues to slightly favor sideways to upside, but profit taking activity can begin at any moment. Bulls need follow through buying next week while bears wants a failed breakout from the tight trading range. The [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[136],"tags":[1346,281,60],"class_list":["post-119354","post","type-post","status-publish","format-standard","category-analysis","tag-bull-bar-streak","tag-eurusd-forex","tag-sp-emini","entry","has-post-thumbnail","override","shadow"],"featured_image_src":null,"author_info":{"display_name":"Al","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/albrooks\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/119354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=119354"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/119354\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=119354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=119354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=119354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}