{"id":208554,"date":"2024-05-14T06:58:25","date_gmt":"2024-05-14T13:58:25","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=208554"},"modified":"2024-05-14T21:40:10","modified_gmt":"2024-05-15T04:40:10","slug":"emini-buyers-at-may-8th-buy-signal-bar","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-buyers-at-may-8th-buy-signal-bar\/","title":{"rendered":"Emini Buyers at May 8th Buy Signal bar"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Tuesday May 14, 2024<\/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 reached the May 8<sup>th<\/sup> high during the Globex 8:30 AM EST report bar and found buyers.<\/li>\n\n\n\n<li>Yesterday formed a bear inside bar. This is a sign of disappointment by the bulls and increases the odds that the market will begin to go sideways soon.<\/li>\n\n\n\n<li>The bears are hopeful that yesterday&#8217;s inside bar will act as a final flag and lead to a reversal down.<\/li>\n\n\n\n<li>Even if the bears get a reversal down, there will likely be buyers not far below, such as the high of May 8<sup>th<\/sup>, which is a High 1 buy signal bar.<\/li>\n\n\n\n<li>I mentioned last week that the market would likely test the May 8<sup>th<\/sup> high 1 buy signal bar due to trapped traders. High 1 buy signal bars late in a trend often have a brief pullback, followed by trend resumption. This means that sellers are usually above High 1 setups late in rallies. Here, the bears got trapped selling above the May 8<sup>th<\/sup> high 1, and the market was likely to allow the trapped bears out. The bulls know this and will use the retest to establish long positions.<\/li>\n\n\n\n<li>The bulls want to reach the 5,300 round number, which is near the measured move of the bull breakout of the bear flag (April 19<sup>th<\/sup> low to the April 29<sup>th<\/sup> high).<\/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>The Globex market sold off during the 8:30 AM EDT report and found support at the May 8<sup>th<\/sup> high 1 buy signal bar high.<\/li>\n\n\n\n<li>The bulls reversed the market and reached the high of the 8:30 AM EST report bar right before the open of the U.S. Session.<\/li>\n\n\n\n<li>Traders should expect today to have a lot of trading range price action on the open.<\/li>\n\n\n\n<li>In general, there is an 80% chance of a trading range open, and only a 20% chance of a trend from the open.<\/li>\n\n\n\n<li>Most traders should expect a trading range open, and consider not trading for the first 6-12 bars, unless they are able to make quick decisions. This is because most breakouts on the open are minor and lead to reversals.<\/li>\n\n\n\n<li>There is an 80% chance of a swing trade on the open that often begins before the end of the second hour. It is common for the market to form a double top\/bottom or a wedge top\/bottom before the opening swing trade begins.<\/li>\n\n\n\n<li>This means that a trader can usually wait for the market to form one of the above-mentioned patterns to form and enter on a stop entry to try and catch the opening swing.<\/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\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Then-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Bear Trend From Open Midday Reversal Then Trading Range\" class=\"wp-image-208604\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Then-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 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\">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\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Top-Failed-Then-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Top-Failed-Then-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Wedge Top Failed Then Trading Range\" class=\"wp-image-208664\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Top-Failed-Then-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Top-Failed-Then-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Top-Failed-Then-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Wedge-Top-Failed-Then-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<h3 class=\"wp-block-heading\">End of day video review<\/h3>\n\n\n\n<p>End Of Day Review will be presented in the Trading Room today. See below for details on how to sign up.<\/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: Tuesday May 14, 2024 S&amp;P Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today 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 sell entry bar with [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":208604,"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":[60],"class_list":{"0":"post-208554","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"tag-sp-emini","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/05\/SP500-Emini-5-Min-Chart-Bear-Trend-From-Open-Midday-Reversal-Then-Trading-Range.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\/208554","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=208554"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/208554\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/208604"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=208554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=208554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=208554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}