The Weekly<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Weekly-Bear-inside-Bar-BO-Mode-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- This week\u2019s Emini candlestick <\/a>was an inside bear bar with a prominent tail below.<\/li>\n\n\n\n
- Last week, we said that odds slightly favor the market to trade at least a little higher and likely still Always In Long.<\/li>\n\n\n\n
- The market traded sideways to down for the week and closed in the lower half.<\/li>\n\n\n\n
- Previously, the bulls got a strong trend up (since March) in a tight bull channel. <\/li>\n\n\n\n
- That increases the odds of at least a second leg sideways to up after a pullback. The second leg sideways to up may still be underway.<\/li>\n\n\n\n
- They hope that this week was simply a pullback and want a breakout above the bear inside bar.<\/li>\n\n\n\n
- The bulls want a retest of the July 27 high followed by a strong breakout above.<\/li>\n\n\n\n
- The next targets for the bulls are the March 2022 high area and the all-time high.<\/li>\n\n\n\n
- If the market trades lower, they want a reversal up from around the 20-week exponential moving average or from a double bottom bull flag with the August 18 low.<\/li>\n\n\n\n
- Previously, the bears got a pullback from a climactic move and tested the 20-week exponential moving average.<\/li>\n\n\n\n
- They want another leg down from a lower high major trend reversal.<\/li>\n\n\n\n
- They will need to create follow-through selling trading far below the 20-week exponential moving average to increase the odds of a deeper pullback.<\/li>\n\n\n\n
- Since this week\u2019s candlestick was an inside bar, the market is in breakout mode. The bulls want a breakout above while the bears want a breakout below the inside bar.<\/li>\n\n\n\n
- Because it is a bear bar closing in the lower half, the market may first break out below the inside bar.<\/li>\n\n\n\n
- The first breakout from an inside bar can fail 50% of the time.<\/li>\n\n\n\n
- Sometimes, the candlestick after an inside bar is another inside bar, forming an ii (inside inside) which is a breakout mode pattern.<\/li>\n\n\n\n
- While the Emini could still trade a little lower, odds slightly favor the market to still be Always In Long.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Daily-Can-Bulls-get-HL-MTR-or-DB-Bull-Flag-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- The Emini traded sideways to down earlier in the week. Thursday gapped down but reversed into a bull bar with some follow-through buying on Friday albeit weaker.<\/li>\n\n\n\n
- Previously, we said that odds favor at least a small retest of the prior leg\u2019s extreme high (Jul 27) after the current pullback.<\/li>\n\n\n\n
- The bears got a reversal from a climactic move and a wedge pattern (Dec 13, Feb 2, and Jul 27).<\/li>\n\n\n\n
- They want a second leg sideways to down from a lower high major trend reversal. It is currently underway.<\/li>\n\n\n\n
- They hope that Thursday and Friday were simply a small pullback and want another strong leg down testing the August 18 low.<\/li>\n\n\n\n
- They will need to continue creating strong bear bars closing near their lows, trading far below the August 18 low to increase the odds of a reversal down.<\/li>\n\n\n\n
- The bulls want a reversal up from a higher low major trend reversal followed by a retest of the July 27 high and a strong breakout above.<\/li>\n\n\n\n
- If the market trades lower, they want a reversal up from a double bottom bull flag with the August 18 low.<\/li>\n\n\n\n
- A pullback from a trend would usually last at least TBTL (Ten Bars, Two Legs). The current pullback which started from July 27 has fulfilled the minimum requirement.<\/li>\n\n\n\n
- Since Friday was a bull bar doji closing in the lower half of its range, it is a sell signal bar for Monday.<\/li>\n\n\n\n
- Traders will see if the bears can create follow-through selling or will the market trade slightly lower but find buyers near the August 18 low area.<\/li>\n\n\n\n
- For now, while the Emini could still trade a little lower, odds slightly favor the market to still be Always In Long.<\/li>\n<\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Al Brooks and other presenters talk about the detailed Emini price action real-time each day in the BrooksPriceAction.com trading room<\/a>. We offer a 2 day free trial<\/a>.<\/p>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- \n
- This week\u2019s Emini candlestick <\/a>was an inside bear bar with a prominent tail below.<\/li>\n\n\n\n
- Last week, we said that odds slightly favor the market to trade at least a little higher and likely still Always In Long.<\/li>\n\n\n\n
- The market traded sideways to down for the week and closed in the lower half.<\/li>\n\n\n\n
- Previously, the bulls got a strong trend up (since March) in a tight bull channel. <\/li>\n\n\n\n
- That increases the odds of at least a second leg sideways to up after a pullback. The second leg sideways to up may still be underway.<\/li>\n\n\n\n
- They hope that this week was simply a pullback and want a breakout above the bear inside bar.<\/li>\n\n\n\n
- The bulls want a retest of the July 27 high followed by a strong breakout above.<\/li>\n\n\n\n
- The next targets for the bulls are the March 2022 high area and the all-time high.<\/li>\n\n\n\n
- If the market trades lower, they want a reversal up from around the 20-week exponential moving average or from a double bottom bull flag with the August 18 low.<\/li>\n\n\n\n
- Previously, the bears got a pullback from a climactic move and tested the 20-week exponential moving average.<\/li>\n\n\n\n
- They want another leg down from a lower high major trend reversal.<\/li>\n\n\n\n
- They will need to create follow-through selling trading far below the 20-week exponential moving average to increase the odds of a deeper pullback.<\/li>\n\n\n\n
- Since this week\u2019s candlestick was an inside bar, the market is in breakout mode. The bulls want a breakout above while the bears want a breakout below the inside bar.<\/li>\n\n\n\n
- Because it is a bear bar closing in the lower half, the market may first break out below the inside bar.<\/li>\n\n\n\n
- The first breakout from an inside bar can fail 50% of the time.<\/li>\n\n\n\n
- Sometimes, the candlestick after an inside bar is another inside bar, forming an ii (inside inside) which is a breakout mode pattern.<\/li>\n\n\n\n
- While the Emini could still trade a little lower, odds slightly favor the market to still be Always In Long.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- \n
- The Emini traded sideways to down earlier in the week. Thursday gapped down but reversed into a bull bar with some follow-through buying on Friday albeit weaker.<\/li>\n\n\n\n
- Previously, we said that odds favor at least a small retest of the prior leg\u2019s extreme high (Jul 27) after the current pullback.<\/li>\n\n\n\n
- The bears got a reversal from a climactic move and a wedge pattern (Dec 13, Feb 2, and Jul 27).<\/li>\n\n\n\n
- They want a second leg sideways to down from a lower high major trend reversal. It is currently underway.<\/li>\n\n\n\n
- They hope that Thursday and Friday were simply a small pullback and want another strong leg down testing the August 18 low.<\/li>\n\n\n\n
- They will need to continue creating strong bear bars closing near their lows, trading far below the August 18 low to increase the odds of a reversal down.<\/li>\n\n\n\n
- The bulls want a reversal up from a higher low major trend reversal followed by a retest of the July 27 high and a strong breakout above.<\/li>\n\n\n\n
- If the market trades lower, they want a reversal up from a double bottom bull flag with the August 18 low.<\/li>\n\n\n\n
- A pullback from a trend would usually last at least TBTL (Ten Bars, Two Legs). The current pullback which started from July 27 has fulfilled the minimum requirement.<\/li>\n\n\n\n
- Since Friday was a bull bar doji closing in the lower half of its range, it is a sell signal bar for Monday.<\/li>\n\n\n\n
- Traders will see if the bears can create follow-through selling or will the market trade slightly lower but find buyers near the August 18 low area.<\/li>\n\n\n\n
- For now, while the Emini could still trade a little lower, odds slightly favor the market to still be Always In Long.<\/li>\n<\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Al Brooks and other presenters talk about the detailed Emini price action real-time each day in the BrooksPriceAction.com trading room<\/a>. We offer a 2 day free trial<\/a>.<\/p>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n