{"id":195779,"date":"2023-12-14T06:42:56","date_gmt":"2023-12-14T14:42:56","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=195779"},"modified":"2023-12-14T20:38:36","modified_gmt":"2023-12-15T04:38:36","slug":"emini-buy-climax-late-in-bull-trend","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-buy-climax-late-in-bull-trend\/","title":{"rendered":"Emini Buy Climax Late in Bull Trend"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Thursday December 14, 2023<\/h3>\n\n\n\n<h2 class=\"wp-block-heading\">S&amp;P Emini pre-open market analysis<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Emini daily chart<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Emini formed a large buy climax bar, during yesterday&#8217;s FOMC rally. The rally tested the July high, a target for the bulls.<\/li>\n\n\n\n<li>Because yesterday was climactic, the odds favor profit-taking and sideways trading for a few days. Today will probably be a trading range or a bear-trend day.<\/li>\n\n\n\n<li>The market is very far from the moving average late in a bull rally. This will increase the odds that the market will test and reach the moving average over the next few weeks.<\/li>\n\n\n\n<li>It is important to realize that buy climaxes typically do not lead to bear trends. Instead, they often lead to trading ranges and sideways trading.<\/li>\n\n\n\n<li>Because yesterday was so bullish traders must be prepared for a possibly surprise bull trend day today. However, there is only around a 20 \u2013 25% chance of that happening.<\/li>\n\n\n\n<li>Overall, the odds favor profit-taking and sideways for the next couple of days.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Emini 5-minute chart and what to expect today<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Emini is up 17 points in the overnight Globex session.<\/li>\n\n\n\n<li>The Emini will probably have many sideways trading on the open. This is due to yesterday&#8217;s strong buy climaxes following the FOMC rally.<\/li>\n\n\n\n<li>There is a 75% chance of two at least two hours of sideways trading beginning before the end of the second hour. There is a 50% chance of follow-through buying on the open, followed by a trading range forming after.<\/li>\n\n\n\n<li>There is only a 25% chance of a bull trend from the open today.<\/li>\n\n\n\n<li>As I often say, most traders should consider waiting for 6-12 bars before placing a trade unless they are comfortable with limit order trading and making quick decisions.<\/li>\n\n\n\n<li>Today will probably disappoint the bulls, which means that yesterday\u2019s high will likely be resistance, and the market will have a hard time closing above it.<\/li>\n\n\n\n<li>If today goes up, traders should expect the gap to close.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Emini intraday market update<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Emini has gone sideways for the first three hours of the U.S. Session.<\/li>\n\n\n\n<li>Today is likely to be a trading range day due to the climatic buying pressure yesterday.<\/li>\n\n\n\n<li>Traders should continue to pay attention to the open of the day, as it will likely be a magnet for most of the day.<\/li>\n\n\n\n<li>The bears failed to close the gap. This is a magnet, which means traders should be open to the possibility of a sell vacuum test of yesterday\u2019s close at some point today.<\/li>\n\n\n\n<li>As of bar 39, the channel up is tight, which lowers the probability of the market falling below the low of the day. The bears must first develop more selling pressure.<\/li>\n\n\n\n<li>It is important to realize that the market is near the bar 4 high of the day. This area will likely act as resistance, which means that the market could stall here.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Yesterday&#8217;s Emini setups<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Bull-Breakout-on-FOMC.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Bull-Breakout-on-FOMC-680x383.jpg\" alt=\"SP500 Emini 5 Min Chart Trading Range Then Bull Breakout on FOMC\" class=\"wp-image-195885\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Bull-Breakout-on-FOMC-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Bull-Breakout-on-FOMC-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Bull-Breakout-on-FOMC-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Bull-Breakout-on-FOMC.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Al created the SP500 Emini charts.<\/em><\/p>\n\n\n\n<p class=\"caption\">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.<\/p>\n\n\n\n<p class=\"caption\">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.<\/p>\n\n\n\n<p class=\"caption\">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.<\/p>\n\n\n\n<p class=\"caption\">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.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EURUSD Forex market trading strategies<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">EURUSD Forex daily chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/emini-buy-climax-late-in-bull-trend\/attachment\/eurusd-daily-surprise-breakout-2nd-leg-up-likely\/\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Daily-Surprise-Breakout-2nd-Leg-Up-Likely-680x383.jpg\" alt=\"EURUSD Daily: Surprise Breakout, 2nd Leg Up Likely\" class=\"wp-image-195914\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Daily-Surprise-Breakout-2nd-Leg-Up-Likely-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Daily-Surprise-Breakout-2nd-Leg-Up-Likely-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Daily-Surprise-Breakout-2nd-Leg-Up-Likely-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/EURUSD-Daily-Surprise-Breakout-2nd-Leg-Up-Likely.jpg 960w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EURUSD formed a strong upside breakout over the past two trading days, trapping the bulls out of a winning trade and the bears into a losing trade.<\/li>\n\n\n\n<li>The selloff to the December low was strong enough to increase the odds of a second leg down. However, yesterday&#8217;s bull breakout (December 13<sup>th<\/sup>) was strong enough that bears began to buy back shorts, and bulls began to buy to establish longs.<\/li>\n\n\n\n<li>Although the bears formed a wedge top with the November 29<sup>th<\/sup> high, it was likely to be a minor reversal, due to the channel up being tight.<\/li>\n\n\n\n<li>While the reversal up today is strong, it is possible vacuum test of resistance, the November high.<\/li>\n\n\n\n<li>The odds favor a second leg up after today. However, the pullback could be deep.<\/li>\n\n\n\n<li>The bears are hopeful the recent rally will become a double top with the November high and lead to a test of the December low. This is unlikely without more selling pressure.<\/li>\n\n\n\n<li>Overall, the odds favor a second leg up, however, the pullback could be deep.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Summary of today&#8217;s S&amp;P Emini price action<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Wedge-Bull-Flag-Then-LH-DT-and-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Wedge-Bull-Flag-Then-LH-DT-and-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5 Min Chart Wedge Bull Flag Then LH DT and Trading Range\" class=\"wp-image-195939\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Wedge-Bull-Flag-Then-LH-DT-and-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Wedge-Bull-Flag-Then-LH-DT-and-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Wedge-Bull-Flag-Then-LH-DT-and-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Wedge-Bull-Flag-Then-LH-DT-and-Trading-Range.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p><em>Al created the SP500 Emini charts.<\/em><\/p>\n\n\n\n<p><em>See the <a rel=\"noreferrer noopener\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">weekly update<\/a> for a discussion of the price action on the weekly chart and for what to expect going into next week.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Trading Room<\/h2>\n\n\n\n<p>Al Brooks and other presenters talk about the detailed Emini price action real-time each day in the BrooksPriceAction.com <a href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\" target=\"_blank\" rel=\"noreferrer noopener\">trading room<\/a> days. We offer a <a href=\"http:\/\/www.brookspriceaction.com\/portal.php?page=11\" target=\"_blank\" rel=\"noreferrer noopener\">2 day free trial<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Charts use Pacific Time<\/h3>\n\n\n\n<p>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 <a href=\"https:\/\/www.brookstradingcourse.com\/blog\/market-update\/\" target=\"_blank\" rel=\"noreferrer noopener\">Market Update<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Trading Update: Thursday December 14, 2023 S&amp;P Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Emini intraday market update Yesterday&#8217;s Emini setups Al created the SP500 Emini charts. Here are reasonable stop entry setups from yesterday. I show each buy entry bar with a green arrow and each [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":195885,"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":[153,136],"tags":[282,281,60],"class_list":{"0":"post-195779","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"tag-buy-climax","10":"tag-eurusd-forex","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/SP500-Emini-5-Min-Chart-Trading-Range-Then-Bull-Breakout-on-FOMC.jpg","author_info":{"display_name":"Brad","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/brad-wolff\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/195779","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\/5460"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=195779"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/195779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/195885"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=195779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=195779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=195779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}