The Weekly<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Weekly-8-Bar-Bull-MC-Bull-Need-Follow-through-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- This week\u2019s Emini candlestick <\/a>was another consecutive bull bar closing in its upper half with a noticeable tail above.<\/li>\n\n\n\n
- Last week<\/a>, we said that odds continue to slightly favor the market to still be Always In Long.<\/li>\n\n\n\n
- This week traded and closed above the July 27 high.<\/li>\n\n\n\n
- The bulls got a strong rally in the form of an 8-bar bull microchannel with bull bars closing near their highs. That means strong bulls.<\/li>\n\n\n\n
- The bulls hope to create a short covering spike above the July 27 high. Bears that have covered will likely not sell again until another significant resistance above (probably above the all-time high next). <\/li>\n\n\n\n
- The next target for the bulls is the all-time high. They want a strong breakout into new all-time high territory, hoping that it will lead to many months of sideways to up trading.<\/li>\n\n\n\n
- They will need to create follow-through buying next week to increase the odds of a retest of the all-time high.<\/li>\n\n\n\n
- If a pullback begins, the bulls want it to be sideways and shallow, with doji(s), bull bars and overlapping candlesticks with long tails below. <\/li>\n\n\n\n
- If there is a deep pullback, they want a reversal up from a higher low major trend reversal and the 20-week EMA to act as support.<\/li>\n\n\n\n
- The bears hope that the strong move is simply a buy-vacuum test of what they believe to be a 36-month trading range high.<\/li>\n\n\n\n
- They want a reversal from a higher high major trend reversal (with the July 27 high) or a double top (July 27 high).<\/li>\n\n\n\n
- The problem with the bear\u2019s case is that the current rally is very strong. <\/li>\n\n\n\n
- They will need to create strong bear bars with sustained follow-through selling to increase the odds of a deeper pullback. So far, they have not yet been able to do so.<\/li>\n\n\n\n
- Since this week\u2019s candlestick is a bull bar closing in its upper half, it is a buy signal bar for next week. The risk for new buyers is becoming big because of the large stop required.<\/li>\n\n\n\n
- Swing bulls will likely continue to hold their longs established at a much lower price through the anticipated pullback, expecting any pullback to be minor.<\/li>\n\n\n\n
- As the trend is becoming increasingly climactic, a small pullback can begin within a few weeks.<\/li>\n\n\n\n
- However, until the bears can create strong consecutive bear bars, odds continue to favor the market to remain in the sideways to up phase.<\/li>\n\n\n\n
- Odds also favor buyers below the first pullback from such a strong bull microchannel. <\/li>\n\n\n\n
- If there is a deeper pullback, odds slightly favor at least a small second leg sideways to up.<\/li>\n\n\n\n
- Traders will see if the bulls can get another follow-through bull bar (even if it is just a bull doji) or will the market close with a bear body and a prominent tail above, beginning the minor pullback phase.<\/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\/12\/Emini-Daily-Tight-Bull-Channel-Weak-Selling-Pressure-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- The market traded higher for the week. Wednesday traded above the July 27 high with some follow-through buying on Thursday. Friday was a small inside doji.<\/li>\n\n\n\n
- Last week<\/a>, we said that the buying pressure remains very strong with bear bars not getting follow-through selling. Odds continue to favor the market to still be Always In Long.<\/li>\n\n\n\n
- The bulls got a strong reversal with several big gaps that remained open and in a tight bull channel.<\/li>\n\n\n\n
- They hope that the current rally will form a spike and channel which will last for many months after a pullback.<\/li>\n\n\n\n
- They want a strong short covering above the July 27 high that will fuel the move towards the all-time high.<\/li>\n\n\n\n
- They want a strong breakout into new all-time high territory.<\/li>\n\n\n\n
- If a pullback begins, the bulls want the 20-day EMA to act as support and form a 20-Gap-Bar buy setup.<\/li>\n\n\n\n
- They want any pullback to be sideways and shallow (with doji(s), overlapping bars, bull bars and candlesticks with long tails below).<\/li>\n\n\n\n
- The bears hope that the strong rally is simply a buy vacuum retest of the July 27 high. <\/li>\n\n\n\n
- They want a reversal down from a lower high major trend reversal (against the all-time high) and a double top (with July 27).<\/li>\n\n\n\n
- The problem for the bears is that the selling pressure remains weak (no consecutive bear bars) while the buying pressure is very strong (strong bull bars closing near their highs).<\/li>\n\n\n\n
- The bears will need to create consecutive bear bars closing near their lows trading far below the 20-day EMA to increase the odds of a reversal.<\/li>\n\n\n\n
- For now, the buying pressure remains very strong with bear bars not getting follow-through selling. <\/li>\n\n\n\n
- While the market is becoming increasingly climactic, until the bears can create strong bear bars, odds slightly favor the market to remain in the sideways to up phase.<\/li>\n\n\n\n
- The odds slightly favor any pullback to be minor, followed by a retest of the current leg extreme high (now December 14).<\/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
![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/12\/Emini-Weekly-8-Bar-Bull-MC-Bull-Need-Follow-through.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- \n
- This week\u2019s Emini candlestick <\/a>was another consecutive bull bar closing in its upper half with a noticeable tail above.<\/li>\n\n\n\n
- Last week<\/a>, we said that odds continue to slightly favor the market to still be Always In Long.<\/li>\n\n\n\n
- This week traded and closed above the July 27 high.<\/li>\n\n\n\n
- The bulls got a strong rally in the form of an 8-bar bull microchannel with bull bars closing near their highs. That means strong bulls.<\/li>\n\n\n\n
- The bulls hope to create a short covering spike above the July 27 high. Bears that have covered will likely not sell again until another significant resistance above (probably above the all-time high next). <\/li>\n\n\n\n
- The next target for the bulls is the all-time high. They want a strong breakout into new all-time high territory, hoping that it will lead to many months of sideways to up trading.<\/li>\n\n\n\n
- They will need to create follow-through buying next week to increase the odds of a retest of the all-time high.<\/li>\n\n\n\n
- If a pullback begins, the bulls want it to be sideways and shallow, with doji(s), bull bars and overlapping candlesticks with long tails below. <\/li>\n\n\n\n
- If there is a deep pullback, they want a reversal up from a higher low major trend reversal and the 20-week EMA to act as support.<\/li>\n\n\n\n
- The bears hope that the strong move is simply a buy-vacuum test of what they believe to be a 36-month trading range high.<\/li>\n\n\n\n
- They want a reversal from a higher high major trend reversal (with the July 27 high) or a double top (July 27 high).<\/li>\n\n\n\n
- The problem with the bear\u2019s case is that the current rally is very strong. <\/li>\n\n\n\n
- They will need to create strong bear bars with sustained follow-through selling to increase the odds of a deeper pullback. So far, they have not yet been able to do so.<\/li>\n\n\n\n
- Since this week\u2019s candlestick is a bull bar closing in its upper half, it is a buy signal bar for next week. The risk for new buyers is becoming big because of the large stop required.<\/li>\n\n\n\n
- Swing bulls will likely continue to hold their longs established at a much lower price through the anticipated pullback, expecting any pullback to be minor.<\/li>\n\n\n\n
- As the trend is becoming increasingly climactic, a small pullback can begin within a few weeks.<\/li>\n\n\n\n
- However, until the bears can create strong consecutive bear bars, odds continue to favor the market to remain in the sideways to up phase.<\/li>\n\n\n\n
- Odds also favor buyers below the first pullback from such a strong bull microchannel. <\/li>\n\n\n\n
- If there is a deeper pullback, odds slightly favor at least a small second leg sideways to up.<\/li>\n\n\n\n
- Traders will see if the bulls can get another follow-through bull bar (even if it is just a bull doji) or will the market close with a bear body and a prominent tail above, beginning the minor pullback phase.<\/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 market traded higher for the week. Wednesday traded above the July 27 high with some follow-through buying on Thursday. Friday was a small inside doji.<\/li>\n\n\n\n
- Last week<\/a>, we said that the buying pressure remains very strong with bear bars not getting follow-through selling. Odds continue to favor the market to still be Always In Long.<\/li>\n\n\n\n
- The bulls got a strong reversal with several big gaps that remained open and in a tight bull channel.<\/li>\n\n\n\n
- They hope that the current rally will form a spike and channel which will last for many months after a pullback.<\/li>\n\n\n\n
- They want a strong short covering above the July 27 high that will fuel the move towards the all-time high.<\/li>\n\n\n\n
- They want a strong breakout into new all-time high territory.<\/li>\n\n\n\n
- If a pullback begins, the bulls want the 20-day EMA to act as support and form a 20-Gap-Bar buy setup.<\/li>\n\n\n\n
- They want any pullback to be sideways and shallow (with doji(s), overlapping bars, bull bars and candlesticks with long tails below).<\/li>\n\n\n\n
- The bears hope that the strong rally is simply a buy vacuum retest of the July 27 high. <\/li>\n\n\n\n
- They want a reversal down from a lower high major trend reversal (against the all-time high) and a double top (with July 27).<\/li>\n\n\n\n
- The problem for the bears is that the selling pressure remains weak (no consecutive bear bars) while the buying pressure is very strong (strong bull bars closing near their highs).<\/li>\n\n\n\n
- The bears will need to create consecutive bear bars closing near their lows trading far below the 20-day EMA to increase the odds of a reversal.<\/li>\n\n\n\n
- For now, the buying pressure remains very strong with bear bars not getting follow-through selling. <\/li>\n\n\n\n
- While the market is becoming increasingly climactic, until the bears can create strong bear bars, odds slightly favor the market to remain in the sideways to up phase.<\/li>\n\n\n\n
- The odds slightly favor any pullback to be minor, followed by a retest of the current leg extreme high (now December 14).<\/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
- Last week<\/a>, we said that odds continue to slightly favor the market to still be Always In Long.<\/li>\n\n\n\n