{"id":226981,"date":"2025-01-10T07:29:41","date_gmt":"2025-01-10T15:29:41","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=226981"},"modified":"2025-01-13T08:33:12","modified_gmt":"2025-01-13T16:33:12","slug":"emini-possible-wedge-bottom","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/emini-possible-wedge-bottom\/","title":{"rendered":"Emini Possible Wedge Bottom"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Friday January 10, 2025<\/h3>\n\n\n\n<h2 class=\"wp-block-heading\">Emini end of day video review<\/h2>\n\n\n\n<div class=\"wp-block-stackable-video-popup stk-block-video-popup stk-block stk-0798af1\" data-video=\"https:\/\/www.youtube.com\/watch?v=TGdea7Xskt4\" data-block-id=\"0798af1\"><div class=\"stk-block-video-popup__overlay stk-row stk-inner-blocks stk-block-content stk-hover-parent\" aria-label=\"Play Video\" tabindex=\"0\" role=\"button\">\n<div class=\"wp-block-stackable-icon stk-block-icon has-text-align-center stk-block stk-4ad4841\" data-block-id=\"4ad4841\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><linearGradient id=\"linear-gradient-4ad4841\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-4-ad-4841-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-4-ad-4841-color-2)\"><\/stop><\/linearGradient><\/defs><\/svg><svg data-prefix=\"fas\" data-icon=\"play\" class=\"svg-inline--fa fa-play fa-w-14\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 448 512\" aria-hidden=\"true\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M424.4 214.7L72.4 6.6C43.8-10.3 0 6.1 0 47.9V464c0 37.5 40.7 60.1 72.4 41.3l352-208c31.4-18.5 31.5-64.1 0-82.6z\"><\/path><\/svg><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-stackable-image stk-block-image stk-block stk-bf6d078\" data-block-id=\"bf6d078\"><figure><span class=\"stk-img-wrapper stk-image--shape-stretch\"><img loading=\"lazy\" decoding=\"async\" class=\"stk-img wp-image-216272\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone.png\" width=\"1280\" height=\"720\" alt=\"Emini EOD Review Joseph Imbornone\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone.png 1280w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/Emini-EOD-Review-Joseph-Imbornone-768x432.png 768w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><\/span><\/figure><\/div>\n<\/div><\/div>\n\n\n\n<p><em>Follow Joseph&#8217;s <a href=\"https:\/\/www.youtube.com\/@JosephImbornone10\" target=\"_blank\" rel=\"noreferrer noopener\">YouTube channel<\/a> for more Al Brooks price action analysis.<\/em><\/p>\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 weak buy signal bar on January 8<sup>th<\/sup> following the prior day\u2019s bear reversal bar. The Bulls are hopeful that today, they will find buyers below the January 2<sup>nd<\/sup> low and form a wedge bottom with December 18th and January 2<sup>nd<\/sup>.<\/li>\n\n\n\n<li>January 8<sup>th<\/sup> was a strong enough reversal bar that the odds favored sellers above the January 8<sup>th<\/sup> high, which led to today\u2019s gap down during the Globex market.<\/li>\n\n\n\n<li>The bears want a 2<sup>nd<\/sup> leg down following the December 18<sup>th<\/sup> bear breakout. Next, they want a test of the November 4<sup>th<\/sup> major higher low.<\/li>\n\n\n\n<li>The daily chart is collecting bars below the moving average. This is a clear sign that the bulls are losing control and that the daily chart is now in a trading range.<\/li>\n\n\n\n<li>The bears need a clear downside breakout to make the market Always In Short.<\/li>\n\n\n\n<li>More likely, the market will find buyers near the November low and continue to go sideways.<\/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 Emin gapped down and formed a bear trend from the open.<\/li>\n\n\n\n<li>Bear 9 formed a possible parabolic wedge bottom, increasing the odds of a reversal, which happened on bar 12.<\/li>\n\n\n\n<li>The bulls are hopeful that bar 12 is strong enough to lead to an early low of the day. More likely, the market will go sideways. However, the reversal is strong enough for a 2<sup>nd<\/sup> leg up.&nbsp;<\/li>\n\n\n\n<li>The context is bad for a bear trend day, which means the odds favor a reversal up. This is because the daily chart is forming a possible wedge bottom with the January 2<sup>nd<\/sup> low.<\/li>\n\n\n\n<li>The Bulls hope that the reversal up to bar 12 is strong enough to lead to a test of the day&#8217;s high. While it is possible, it is not yet high probability.<\/li>\n\n\n\n<li>Bears should wait to sell due to the strong reversal up from bar 12. At a minimum, the Bulls will likely get a 2<sup>nd<\/sup> leg up.<\/li>\n\n\n\n<li>The Bulls got a second leg up with bar 16. While the rally is good for the bulls, it has overlap, which increases the odds of a test down to the bar 9 bad buy signal bar high.<\/li>\n\n\n\n<li>It would be better for the bulls if the market formed a double bottom with the bar 9 low. The bulls want the 2<sup>nd<\/sup> leg down from bar 16 to form a wedge bottom and a double bottom with the bar 9 low. &nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Wednesday&#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\/2025\/01\/SP500-Emini-5-Min-Chart-Wedge-Bottom-and-Then-Trading-Range-Day.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/SP500-Emini-5-Min-Chart-Wedge-Bottom-and-Then-Trading-Range-Day-680x383.jpg\" alt=\"SP500 Emini 5-Min Chart Wedge Bottom and Then Trading Range Day\" class=\"wp-image-227123\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/SP500-Emini-5-Min-Chart-Wedge-Bottom-and-Then-Trading-Range-Day-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/SP500-Emini-5-Min-Chart-Wedge-Bottom-and-Then-Trading-Range-Day-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/SP500-Emini-5-Min-Chart-Wedge-Bottom-and-Then-Trading-Range-Day-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/SP500-Emini-5-Min-Chart-Wedge-Bottom-and-Then-Trading-Range-Day.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 Wednesday (pre market close for Jimmy Carter&#8217;s National Day of Mourning). 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\/2025\/01\/SP500-Emini-5-Minute-Chart-Bear-Trend-from-Open-and-Then-a-Trading-Range.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/SP500-Emini-5-Minute-Chart-Bear-Trend-from-Open-and-Then-a-Trading-Range-680x383.jpg\" alt=\"SP500 Emini 5-Minute Chart Bear Trend from Open and Then a Trading Range\" class=\"wp-image-227718\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/SP500-Emini-5-Minute-Chart-Bear-Trend-from-Open-and-Then-a-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/SP500-Emini-5-Minute-Chart-Bear-Trend-from-Open-and-Then-a-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/SP500-Emini-5-Minute-Chart-Bear-Trend-from-Open-and-Then-a-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/SP500-Emini-5-Minute-Chart-Bear-Trend-from-Open-and-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<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\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: Friday January 10, 2025 Emini end of day video review Follow Joseph&#8217;s YouTube channel for more Al Brooks price action analysis. S&amp;P Emini market analysis Emini daily chart Emini 5-minute chart and what to expect today Wednesday&#8217;s Emini setups Al created the SP500 Emini charts. Here are reasonable stop entry setups from Wednesday [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":227123,"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":[153,136,241],"tags":[60,1398],"class_list":{"0":"post-226981","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-update","8":"category-analysis","9":"category-video","10":"tag-sp-emini","11":"tag-wedge-bottom","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/01\/SP500-Emini-5-Min-Chart-Wedge-Bottom-and-Then-Trading-Range-Day.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\/226981","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=226981"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/226981\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/227123"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=226981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=226981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=226981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}