The Monthly<\/em> Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/Emini-Monthly-FT-Buying-Following-BO-above-All-Time-High-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The March monthly Emini candlestick<\/a> was another consecutive bull bar closing near its high and above the all-time high.<\/li>\n\n\n\n
- Last month<\/a>, we said that the odds slightly favor March to trade at least a little higher. Until the bears can create a strong sell signal bar, odds continue to favor the market to trade sideways to up.<\/li>\n\n\n\n
- The bulls got follow-through buying above the all-time high in March.<\/li>\n\n\n\n
- That increases the odds that April will likely trade at least a little higher.<\/li>\n\n\n\n
- If there is a pullback, the bulls want another strong leg up completing the wedge pattern with the first two legs being July 27 and March 28.<\/li>\n\n\n\n
- While a minor pullback can come at any moment, trying to pick a top is a low-probability strategy.<\/li>\n\n\n\n
- The bears want a failed breakout above the all-time high and a reversal from a higher high major trend reversal.<\/li>\n\n\n\n
- They also see a large wedge pattern (Dec 2, July 27, and Mar 28).<\/li>\n\n\n\n
- Because of the strong rally in the last 5 months, they will need a strong sell signal bar or a micro double top before traders would be willing to sell more aggressively. So far, there is no strong signal bar yet.<\/li>\n\n\n\n
- Since March closed near its high, it is a buy signal bar for April.<\/li>\n\n\n\n
- For now, odds slightly favor April to trade at least a little higher. <\/li>\n\n\n\n
- The market remains Always In Long and the move up from October is in a 6-bar bull microchannel.<\/li>\n\n\n\n
- That means strong bulls. That increases the odds of buyers below the first pullback.<\/li>\n\n\n\n
- Traders will see if the bulls can get another follow-through bull bar, or will the market start to show some sign of a loss of momentum.<\/li>\n\n\n\n
- The rally has lasted a long time and is slightly climactic. Traders are looking for signs of a pullback. There are none yet.<\/li>\n\n\n\n
- Until the bears can create a strong sell signal bar, odds continue to favor the market to trade sideways to up.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/03\/Emini-Weekly-Follow-through-Buying-Inside-Bar-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- This week\u2019s Emini candlestick <\/a>was an inside bull bar closing near its high.<\/li>\n\n\n\n
- Last week<\/a>, we said that traders would see if the bulls can create a follow-through bull bar following the breakout above the ioi (inside-outside-inside) pattern.<\/li>\n\n\n\n
- The bulls managed to get a follow-through bull bar. They have a strong rally in the form of a tight bull channel. <\/li>\n\n\n\n
- They hope the rally will lead to many months of sideways to up trading after a pullback.<\/li>\n\n\n\n
- The trend remains strong with not much selling pressure or follow-through selling.<\/li>\n\n\n\n
- Because of the climactic nature of the move, a pullback can begin at any moment.<\/li>\n\n\n\n
- However, the odds slightly at least a small sideways to up leg to retest the trend extreme high (currently March 29) after any pullback.<\/li>\n\n\n\n
- If a pullback begins, the bulls want it to be sideways and shallow, filled with bull bars, doji(s) and overlapping candlesticks.<\/li>\n\n\n\n
- The bears want a reversal from a higher high major trend reversal and a large wedge pattern (Feb 2, July 27, and Mar 29). <\/li>\n\n\n\n
- They see a parabolic wedge in the third leg up since October (Dec 28, Feb 12, and Mar 21), an embedded wedge (Feb 12, Mar 8, and Mar 21) and a micro double top (Mar 21 and Mar 29).<\/li>\n\n\n\n
- The bears hope that the sideways tight trading range (the ioi pattern) will be the final flag of the rally.<\/li>\n\n\n\n
- They hope to get a TBTL (Ten Bars, Two Legs) pullback of at least 5-to-10%. They want at least a test of the 20-week EMA.<\/li>\n\n\n\n
- The problem with the bear\u2019s case is that they have not been able to create any meaningful selling pressure. <\/li>\n\n\n\n
- They will need to create a few strong consecutive bear bars to indicate that they are at least temporarily back in control.<\/li>\n\n\n\n
- However, once traders see a few strong bear bars, the pullback could be halfway over.<\/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.<\/li>\n\n\n\n
- The market continues to be Always In Long.<\/li>\n\n\n\n
- The rally has lasted a long time and is slightly climactic. Traders are looking for signs of profit taking but there are none still.<\/li>\n\n\n\n
- The market having more overlapping price action since February is also an indication of a loss of momentum.<\/li>\n\n\n\n
- However, until the bears can create strong bear bars, traders will not be willing to sell aggressively.<\/li>\n\n\n\n
- Sometimes, a euphoric market (as it is now) can continue higher into a blow-off top (parabolic climax). It could be underway.<\/li>\n\n\n\n
- Traders will see if the bulls can create more follow-through buying. Or will the bears be able to create some decent selling pressure in the weeks ahead?<\/li>\n\n\n\n
- So far, selling pressure continues to be weak with no follow-through selling.<\/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\/2024\/03\/Emini-Monthly-FT-Buying-Following-BO-above-All-Time-High.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n
- \n
- The March monthly Emini candlestick<\/a> was another consecutive bull bar closing near its high and above the all-time high.<\/li>\n\n\n\n
- Last month<\/a>, we said that the odds slightly favor March to trade at least a little higher. Until the bears can create a strong sell signal bar, odds continue to favor the market to trade sideways to up.<\/li>\n\n\n\n
- The bulls got follow-through buying above the all-time high in March.<\/li>\n\n\n\n
- That increases the odds that April will likely trade at least a little higher.<\/li>\n\n\n\n
- If there is a pullback, the bulls want another strong leg up completing the wedge pattern with the first two legs being July 27 and March 28.<\/li>\n\n\n\n
- While a minor pullback can come at any moment, trying to pick a top is a low-probability strategy.<\/li>\n\n\n\n
- The bears want a failed breakout above the all-time high and a reversal from a higher high major trend reversal.<\/li>\n\n\n\n
- They also see a large wedge pattern (Dec 2, July 27, and Mar 28).<\/li>\n\n\n\n
- Because of the strong rally in the last 5 months, they will need a strong sell signal bar or a micro double top before traders would be willing to sell more aggressively. So far, there is no strong signal bar yet.<\/li>\n\n\n\n
- Since March closed near its high, it is a buy signal bar for April.<\/li>\n\n\n\n
- For now, odds slightly favor April to trade at least a little higher. <\/li>\n\n\n\n
- The market remains Always In Long and the move up from October is in a 6-bar bull microchannel.<\/li>\n\n\n\n
- That means strong bulls. That increases the odds of buyers below the first pullback.<\/li>\n\n\n\n
- Traders will see if the bulls can get another follow-through bull bar, or will the market start to show some sign of a loss of momentum.<\/li>\n\n\n\n
- The rally has lasted a long time and is slightly climactic. Traders are looking for signs of a pullback. There are none yet.<\/li>\n\n\n\n
- Until the bears can create a strong sell signal bar, odds continue to favor the market to trade sideways to up.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n- \n
- This week\u2019s Emini candlestick <\/a>was an inside bull bar closing near its high.<\/li>\n\n\n\n
- Last week<\/a>, we said that traders would see if the bulls can create a follow-through bull bar following the breakout above the ioi (inside-outside-inside) pattern.<\/li>\n\n\n\n
- The bulls managed to get a follow-through bull bar. They have a strong rally in the form of a tight bull channel. <\/li>\n\n\n\n
- They hope the rally will lead to many months of sideways to up trading after a pullback.<\/li>\n\n\n\n
- The trend remains strong with not much selling pressure or follow-through selling.<\/li>\n\n\n\n
- Because of the climactic nature of the move, a pullback can begin at any moment.<\/li>\n\n\n\n
- However, the odds slightly at least a small sideways to up leg to retest the trend extreme high (currently March 29) after any pullback.<\/li>\n\n\n\n
- If a pullback begins, the bulls want it to be sideways and shallow, filled with bull bars, doji(s) and overlapping candlesticks.<\/li>\n\n\n\n
- The bears want a reversal from a higher high major trend reversal and a large wedge pattern (Feb 2, July 27, and Mar 29). <\/li>\n\n\n\n
- They see a parabolic wedge in the third leg up since October (Dec 28, Feb 12, and Mar 21), an embedded wedge (Feb 12, Mar 8, and Mar 21) and a micro double top (Mar 21 and Mar 29).<\/li>\n\n\n\n
- The bears hope that the sideways tight trading range (the ioi pattern) will be the final flag of the rally.<\/li>\n\n\n\n
- They hope to get a TBTL (Ten Bars, Two Legs) pullback of at least 5-to-10%. They want at least a test of the 20-week EMA.<\/li>\n\n\n\n
- The problem with the bear\u2019s case is that they have not been able to create any meaningful selling pressure. <\/li>\n\n\n\n
- They will need to create a few strong consecutive bear bars to indicate that they are at least temporarily back in control.<\/li>\n\n\n\n
- However, once traders see a few strong bear bars, the pullback could be halfway over.<\/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.<\/li>\n\n\n\n
- The market continues to be Always In Long.<\/li>\n\n\n\n
- The rally has lasted a long time and is slightly climactic. Traders are looking for signs of profit taking but there are none still.<\/li>\n\n\n\n
- The market having more overlapping price action since February is also an indication of a loss of momentum.<\/li>\n\n\n\n
- However, until the bears can create strong bear bars, traders will not be willing to sell aggressively.<\/li>\n\n\n\n
- Sometimes, a euphoric market (as it is now) can continue higher into a blow-off top (parabolic climax). It could be underway.<\/li>\n\n\n\n
- Traders will see if the bulls can create more follow-through buying. Or will the bears be able to create some decent selling pressure in the weeks ahead?<\/li>\n\n\n\n
- So far, selling pressure continues to be weak with no follow-through selling.<\/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 traders would see if the bulls can create a follow-through bull bar following the breakout above the ioi (inside-outside-inside) pattern.<\/li>\n\n\n\n
- Last month<\/a>, we said that the odds slightly favor March to trade at least a little higher. Until the bears can create a strong sell signal bar, odds continue to favor the market to trade sideways to up.<\/li>\n\n\n\n