The Monthly<\/em> Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Monthly-Wedge-Embedded-Wedge-Big-Bull-Bar-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The\u00a0November monthly Emini candlestick<\/a> was a big bull bar closing near high.<\/li>\n\n\n\n
- Last month<\/a>, we said the market remains Always In Long. Traders would see if the bears could create a strong follow-through bear bar (an entry bar) in November, or if the market would trade slightly lower but stall and close with a long tail or a bull body instead (like Aug and Sept).<\/li>\n\n\n\n
- The bulls made a new all-time high in November.<\/li>\n\n\n\n
- They got another leg up, completing the wedge pattern (Mar 21, Jul 16 and Nov 29) and an embedded wedge (Aug 30, Oct 17, and Nov 29).<\/li>\n\n\n\n
- They want the market to continue in a broad bull channel for months.<\/li>\n\n\n\n
- If there is a pullback, the bulls want it to be sideways and shallow (filled with weak bear bars, bull bars, doji(s) and overlapping candlesticks) and form a higher low or a double bottom bull flag with the September 6 or August 5 lows.<\/li>\n\n\n\n
- The bears want a reversal from a wedge (Mar 21, Jul 16 and Nov 29) and an embedded wedge (Aug 30, Oct 17, and Nov 29).<\/li>\n\n\n\n
- They see October as a possible 1 bar final flag of the move and the big bull bar in November as part of a developing buy climax.<\/li>\n\n\n\n
- The problem with the bear\u2019s case is that they have not yet been able to create bear bars with follow-through selling (since Oct 2023).<\/li>\n\n\n\n
- They must create bear bars with follow-through selling to show they are back in control.<\/li>\n\n\n\n
- Since November candlestick was a bull bar closing near its high, it is a buy signal bar for December.<\/li>\n\n\n\n
- Because the candlestick closed near its high, the market may gap up on the Monthly, Weekly, and Daily charts on Monday. Small gaps usually close early.<\/li>\n\n\n\n
- For now, the market remains Always In Long.<\/li>\n\n\n\n
- Odds slightly favor the market to trade at least a little higher.<\/li>\n\n\n\n
- The move up since October 2023 has lasted a long time and is slightly climactic.<\/li>\n\n\n\n
- While the risk of a pullback increases, the bears need to do more to show that they are back in control.<\/li>\n\n\n\n
- Until they can do that, traders will not be willing to sell aggressively.<\/li>\n\n\n\n
- For now, traders will see if the bulls can create more follow-through buying in December.<\/li>\n\n\n\n
- Or will the market trade slightly higher but stall and close with a long tail above or a bear body instead?<\/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\/12\/Emini-Weekly-Retest-High-Strong-FT-Buying-or-Stall-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- This\u00a0week\u2019s\u00a0Emini candlestick\u00a0<\/a>was a small bull bar closing near its high.<\/li>\n\n\n\n
- Last week<\/a>, we said the market may still trade a little higher to test the November 11 high. Traders would see if the bulls could create a follow-through bull bar or if the market would trade slightly higher but stall around the November 11 high area followed by profit-taking activity.<\/li>\n\n\n\n
- The market traded higher to test the November 11 high area and closed in new all-time high territory.<\/li>\n\n\n\n
- The bulls got another leg up, completing the wedge pattern (Mar 21, Jul 16, and Nov 29) and the embedded wedge (Aug 30, Oct 17, and Nov 29).<\/li>\n\n\n\n
- They see the market as being in a broad bull channel and want the market to continue sideways to up for many months.<\/li>\n\n\n\n
- If there is a pullback, they want the 20-week EMA or the bull trend line to act as support.<\/li>\n\n\n\n
- The bears want a reversal from a large wedge (Mar 21, Jul 16, and Nov 29) and an embedded wedge (Aug 30, Oct 17, and Nov 29).<\/li>\n\n\n\n
- They see this week as a retest of the prior extreme high (Nov 11) and want a reversal from a double top (Nov 11 and Nov 29).<\/li>\n\n\n\n
- They hope that the recent sideways candlesticks (end of Sept to early Nov) will be the final flag of the move.<\/li>\n\n\n\n
- They see the big bull bar (Nov 11) appearing late in a trend as a possible buy climax.<\/li>\n\n\n\n
- If the market trades higher, they want a failed breakout followed by the start of a couple of weeks of sideways to down pullback.<\/li>\n\n\n\n
- They need to create a couple of consecutive bear bars closing near their lows to show that they are back in control.<\/li>\n\n\n\n
- Since this\u00a0week\u2019s\u00a0candlestick is\u00a0a small bull bar closing near its high, it can be a buy signal bar for next week.<\/li>\n\n\n\n
- The market may gap up next week on the Monthly, Weekly and Daily charts. Small gaps usually close early.<\/li>\n\n\n\n
- For now, the market may still trade at least a little higher.<\/li>\n\n\n\n
- The recent candlesticks have overlapping ranges with smaller bodies. If this continues to be the case, we may be entering into a more two-sided trading phase (trading range).<\/li>\n\n\n\n
- Traders will see if the bulls can create a follow-through bull bar breaking into a new all-time high.<\/li>\n\n\n\n
- Or will the market trade slightly higher but stall followed by some profit-taking activity?<\/li>\n\n\n\n
- The move up since October 2023 while strong, has lasted a long time and is slightly climactic. The odds of a deeper pullback are increasing.<\/li>\n\n\n\n
- However, the bears need to do more to show that they are at least temporarily back in control. They have yet to do so.<\/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\/12\/Emini-Monthly-Wedge-Embedded-Wedge-Big-Bull-Bar.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n
- \n
- The\u00a0November monthly Emini candlestick<\/a> was a big bull bar closing near high.<\/li>\n\n\n\n
- Last month<\/a>, we said the market remains Always In Long. Traders would see if the bears could create a strong follow-through bear bar (an entry bar) in November, or if the market would trade slightly lower but stall and close with a long tail or a bull body instead (like Aug and Sept).<\/li>\n\n\n\n
- The bulls made a new all-time high in November.<\/li>\n\n\n\n
- They got another leg up, completing the wedge pattern (Mar 21, Jul 16 and Nov 29) and an embedded wedge (Aug 30, Oct 17, and Nov 29).<\/li>\n\n\n\n
- They want the market to continue in a broad bull channel for months.<\/li>\n\n\n\n
- If there is a pullback, the bulls want it to be sideways and shallow (filled with weak bear bars, bull bars, doji(s) and overlapping candlesticks) and form a higher low or a double bottom bull flag with the September 6 or August 5 lows.<\/li>\n\n\n\n
- The bears want a reversal from a wedge (Mar 21, Jul 16 and Nov 29) and an embedded wedge (Aug 30, Oct 17, and Nov 29).<\/li>\n\n\n\n
- They see October as a possible 1 bar final flag of the move and the big bull bar in November as part of a developing buy climax.<\/li>\n\n\n\n
- The problem with the bear\u2019s case is that they have not yet been able to create bear bars with follow-through selling (since Oct 2023).<\/li>\n\n\n\n
- They must create bear bars with follow-through selling to show they are back in control.<\/li>\n\n\n\n
- Since November candlestick was a bull bar closing near its high, it is a buy signal bar for December.<\/li>\n\n\n\n
- Because the candlestick closed near its high, the market may gap up on the Monthly, Weekly, and Daily charts on Monday. Small gaps usually close early.<\/li>\n\n\n\n
- For now, the market remains Always In Long.<\/li>\n\n\n\n
- Odds slightly favor the market to trade at least a little higher.<\/li>\n\n\n\n
- The move up since October 2023 has lasted a long time and is slightly climactic.<\/li>\n\n\n\n
- While the risk of a pullback increases, the bears need to do more to show that they are back in control.<\/li>\n\n\n\n
- Until they can do that, traders will not be willing to sell aggressively.<\/li>\n\n\n\n
- For now, traders will see if the bulls can create more follow-through buying in December.<\/li>\n\n\n\n
- Or will the market trade slightly higher but stall and close with a long tail above or a bear body instead?<\/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\u00a0week\u2019s\u00a0Emini candlestick\u00a0<\/a>was a small bull bar closing near its high.<\/li>\n\n\n\n
- Last week<\/a>, we said the market may still trade a little higher to test the November 11 high. Traders would see if the bulls could create a follow-through bull bar or if the market would trade slightly higher but stall around the November 11 high area followed by profit-taking activity.<\/li>\n\n\n\n
- The market traded higher to test the November 11 high area and closed in new all-time high territory.<\/li>\n\n\n\n
- The bulls got another leg up, completing the wedge pattern (Mar 21, Jul 16, and Nov 29) and the embedded wedge (Aug 30, Oct 17, and Nov 29).<\/li>\n\n\n\n
- They see the market as being in a broad bull channel and want the market to continue sideways to up for many months.<\/li>\n\n\n\n
- If there is a pullback, they want the 20-week EMA or the bull trend line to act as support.<\/li>\n\n\n\n
- The bears want a reversal from a large wedge (Mar 21, Jul 16, and Nov 29) and an embedded wedge (Aug 30, Oct 17, and Nov 29).<\/li>\n\n\n\n
- They see this week as a retest of the prior extreme high (Nov 11) and want a reversal from a double top (Nov 11 and Nov 29).<\/li>\n\n\n\n
- They hope that the recent sideways candlesticks (end of Sept to early Nov) will be the final flag of the move.<\/li>\n\n\n\n
- They see the big bull bar (Nov 11) appearing late in a trend as a possible buy climax.<\/li>\n\n\n\n
- If the market trades higher, they want a failed breakout followed by the start of a couple of weeks of sideways to down pullback.<\/li>\n\n\n\n
- They need to create a couple of consecutive bear bars closing near their lows to show that they are back in control.<\/li>\n\n\n\n
- Since this\u00a0week\u2019s\u00a0candlestick is\u00a0a small bull bar closing near its high, it can be a buy signal bar for next week.<\/li>\n\n\n\n
- The market may gap up next week on the Monthly, Weekly and Daily charts. Small gaps usually close early.<\/li>\n\n\n\n
- For now, the market may still trade at least a little higher.<\/li>\n\n\n\n
- The recent candlesticks have overlapping ranges with smaller bodies. If this continues to be the case, we may be entering into a more two-sided trading phase (trading range).<\/li>\n\n\n\n
- Traders will see if the bulls can create a follow-through bull bar breaking into a new all-time high.<\/li>\n\n\n\n
- Or will the market trade slightly higher but stall followed by some profit-taking activity?<\/li>\n\n\n\n
- The move up since October 2023 while strong, has lasted a long time and is slightly climactic. The odds of a deeper pullback are increasing.<\/li>\n\n\n\n
- However, the bears need to do more to show that they are at least temporarily back in control. They have yet to do so.<\/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 the market may still trade a little higher to test the November 11 high. Traders would see if the bulls could create a follow-through bull bar or if the market would trade slightly higher but stall around the November 11 high area followed by profit-taking activity.<\/li>\n\n\n\n
- Last month<\/a>, we said the market remains Always In Long. Traders would see if the bears could create a strong follow-through bear bar (an entry bar) in November, or if the market would trade slightly lower but stall and close with a long tail or a bull body instead (like Aug and Sept).<\/li>\n\n\n\n