{"id":220527,"date":"2024-10-17T07:21:18","date_gmt":"2024-10-17T14:21:18","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=220527"},"modified":"2024-10-17T21:42:04","modified_gmt":"2024-10-18T04:42:04","slug":"emini-disappointment-above-high-1-likely","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-disappointment-above-high-1-likely\/","title":{"rendered":"Emini Disappointment above High 1 Likely"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Thursday October 17, 2024<\/h3>\n\n\n\n<h2 class=\"wp-block-heading\">S&amp;P Emini 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 High 1 buy signal bar yesterday and found buyers on today&#8217;s open The odds favor disappointment for the bulls above the High 1. This means that there will likely be sellers above it. <\/li>\n\n\n\n<li>The market formed a 6-bar bull microchannel up to the October 14<sup>th<\/sup> high, increasing the odds of buyers on the first reversal down and the market testing the October 14<sup>th<\/sup> high.<\/li>\n\n\n\n<li>The odds still favor a test of the September 26<sup>th<\/sup> breakout point, increasing the odds of a pullback.<\/li>\n\n\n\n<li>Traders should expect the bulls to become disappointed over the next several days and for the market to go sideways soon.<\/li>\n\n\n\n<li>The bears are hopeful that today forms a bear bar closing on its low. This would create a second entry short for the bears and increase the odds of profit-taking bulls.<\/li>\n\n\n\n<li>The problem that the bears have is that the channel up is tight, and the bears have not had a close below the moving average since September 10<sup>th<\/sup>.<\/li>\n\n\n\n<li>The bears need to get close below the moving average as a way to demonstrate an increase in selling pressure.<\/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 Emini gapped up on the open and found strong selling on bar 1. This is because the context was bad for the bulls. This was due to the gap up triggering a weak High 1 buy signal bar on the daily chart that had a&nbsp;bad context.<\/li>\n\n\n\n<li>The bear breakout was strong enough for a second leg up, which is why the market found sellers above bars 3-4.<\/li>\n\n\n\n<li>Bar 2 had a tail below the bar and was near yesterday\u2019s high, which was likely to act as support.<\/li>\n\n\n\n<li>This increased the odds that there were likely buyers below the bar 4 low on any second leg down<\/li>\n\n\n\n<li>The buying pressure up to bar 11 increases the odds of a trading range and not a bear trend day.<\/li>\n\n\n\n<li>Bears are hopeful that the selloff on bars 1-2 is strong enough to lead to a larger second leg down.<\/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\/10\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Breakout-and-Channel-Bull-Trend.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Breakout-and-Channel-Bull-Trend-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart High 2 Bottom Then Breakout and Channel Bull Trend\" class=\"wp-image-220726\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Breakout-and-Channel-Bull-Trend-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Breakout-and-Channel-Bull-Trend-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Breakout-and-Channel-Bull-Trend-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Breakout-and-Channel-Bull-Trend.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\/10\/SP500-Emini-5-Min-Chart-Wedge-Bottom-Then-a-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Wedge-Bottom-Then-a-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Wedge Bottom Then a Trading Range\" class=\"wp-image-220807\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Wedge-Bottom-Then-a-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Wedge-Bottom-Then-a-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Wedge-Bottom-Then-a-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-Wedge-Bottom-Then-a-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>Periodic end of day review videos will be moved to top of page when done.<\/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 October 17, 2024 S&amp;P Emini 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 a [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":220726,"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":[281,329,60],"class_list":{"0":"post-220527","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"tag-eurusd-forex","10":"tag-high-1-buy-signal","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/SP500-Emini-5-Min-Chart-High-2-Bottom-Then-Breakout-and-Channel-Bull-Trend.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\/220527","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=220527"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/220527\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/220726"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=220527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=220527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=220527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}