S&P500 E-mini futures<\/h2>\n\n\n\nThe Monthly<\/em> E-mini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/04\/Emini-Monthly-Pullback-to-20-Month-EMA-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- March formed a bear bar closing below the midpoint of its range, with a long lower tail.<\/li>\n\n\n\n
- Last month<\/a>, we said traders would watch for a breakout in either direction from the tight range and the strength of follow-through. Until then, the market may continue oscillating within it in the near term.<\/li>\n\n\n\n
- The market broke below the tight trading range, testing the 20-month EMA.<\/li>\n\n\n\n
- Bulls see the move as a pullback testing the 20-month EMA and hope it has relieved the prior overbought condition.<\/li>\n\n\n\n
- They want the pullback to be weak and sideways, with overlapping bars and prominent lower tails.<\/li>\n\n\n\n
- Bulls want a major higher low, followed by a retest of the all-time high.<\/li>\n\n\n\n
- They see a large double bottom bull flag (April 7 and March 30) and want a third leg sideways to up (following December 6 and January 28), lasting many months.<\/li>\n\n\n\n
- Bulls want the 20-month EMA to act as support.<\/li>\n\n\n\n
- Bears got a pullback from a large wedge pattern (July 27, December 6, and October 29) and a micro double top (October 29 and January 28).<\/li>\n\n\n\n
- They achieved a measured move to 6,500 based on the height of the 3-month tight trading range.<\/li>\n\n\n\n
- Next, they want a larger measured move to 6,200, based on the height of the broader trading range (November 21 low to January 28 high).<\/li>\n\n\n\n
- Bears need sustained follow-through selling below the 20-month EMA to increase the odds of a successful reversal.<\/li>\n\n\n\n
- If the market trades higher, bears see it as a retest of the prior high and want a lower high major trend reversal, followed by a second leg sideways to down.<\/li>\n\n\n\n
- The market formed a pullback testing the 20-month EMA.<\/li>\n\n\n\n
- It has broken below the 10-month bull trend line, indicating increasing selling pressure.<\/li>\n\n\n\n
- The long tail below the bar suggests bears are not yet decisively strong.<\/li>\n\n\n\n
- Traders may expect a retest of the prior high (January 28), forming either a lower high or a higher high.<\/li>\n\n\n\n
- If the market trades higher, traders will watch the strength of the move\u2014whether it breaks strongly above the March high or stalls with prominent upper tails, overlapping bars, or bear bodies.<\/li>\n\n\n\n
- For now, traders will watch whether bears can generate follow-through selling in April, or if the market instead retests the prior high.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> S&P 500 E-mini chart<\/h3>\n\n\n\n![\"E-mini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/04\/E-mini-Weekly-Bulls-Want-2-Legged-Pullback-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- This week\u2019s candlestick was a bull bar closing near its high, with a prominent lower tail.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bears could generate follow-through selling toward the 6,200 measured move area, or if the market would trade lower but reverse with a long tail below or a bull body.<\/li>\n\n\n\n
- The market traded lower early in the week but reversed to close as a strong bull reversal bar.<\/li>\n\n\n\n
- Bears previously broke below the 13-week tight trading range and achieved a measured move to 6,500 based on its height.<\/li>\n\n\n\n
- Next, they want a larger measured move to 6,200, based on the height of the broader trading range (November 21 low to January 28 high).<\/li>\n\n\n\n
- The current leg down is in a 6-bar bear microchannel and tight bear channel, indicating persistent selling.<\/li>\n\n\n\n
- Bears expect at least a small second leg sideways to down.<\/li>\n\n\n\n
- They want pullbacks to be weak and sideways, with overlapping bars and prominent upper tails.<\/li>\n\n\n\n
- Bears want the 20-week EMA to act as resistance, forming a lower high major trend reversal followed by a second leg sideways to down.<\/li>\n\n\n\n
- Bulls see the move as a deep pullback testing the December 6, 2024 breakout point and the August 1 low, and want these areas to act as support.<\/li>\n\n\n\n
- They see a 2-bar reversal and a trend channel line overshoot buy setup and want a retest of the all-time high.<\/li>\n\n\n\n
- At a minimum, bulls want a two-legged sideways to up pullback lasting a few weeks.<\/li>\n\n\n\n
- Bulls need a strong bull entry bar with follow-through to increase the odds of retesting the high.<\/li>\n\n\n\n
- If the market trades lower, bulls want a higher low relative to March 30.<\/li>\n\n\n\n
- The market recently broke below the November low with follow-through selling.<\/li>\n\n\n\n
- This week’s candlestick closed as a bull bar near its high, which could end the bear microchannel streak.<\/li>\n\n\n\n
- There could be sellers on the first pullback above such a strong bear microchannel.<\/li>\n\n\n\n
- The candlesticks over the last few weeks have large overlapping ranges with their prior bars, indicating bears are not yet decisively strong.<\/li>\n\n\n\n
- The market is likely Always In Short.<\/li>\n\n\n\n
- The recent move broke the bull trendline (March 30), indicating increasing selling pressure.<\/li>\n\n\n\n
- Traders expect a retest of the January 28 high, forming either a lower high or higher high.<\/li>\n\n\n\n
- If the market trades higher, traders will watch the strength of the move \u2014 whether it is strong with consecutive bull bars closing near their highs, or weak with overlapping candlesticks, prominent upper tails, and bear bodies.<\/li>\n\n\n\n
- For now, traders will watch whether bulls can create a strong entry bar to test the 20-week EMA, or if the market continues lower toward the 6,200 measured move, extending the bear microchannel.<\/li>\n<\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Al Brooks and other presenters talk about the detailed E-mini price action real-time each day in the Brooks Trading Course 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\/2026\/04\/Emini-Monthly-Pullback-to-20-Month-EMA.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n
- \n
- March formed a bear bar closing below the midpoint of its range, with a long lower tail.<\/li>\n\n\n\n
- Last month<\/a>, we said traders would watch for a breakout in either direction from the tight range and the strength of follow-through. Until then, the market may continue oscillating within it in the near term.<\/li>\n\n\n\n
- The market broke below the tight trading range, testing the 20-month EMA.<\/li>\n\n\n\n
- Bulls see the move as a pullback testing the 20-month EMA and hope it has relieved the prior overbought condition.<\/li>\n\n\n\n
- They want the pullback to be weak and sideways, with overlapping bars and prominent lower tails.<\/li>\n\n\n\n
- Bulls want a major higher low, followed by a retest of the all-time high.<\/li>\n\n\n\n
- They see a large double bottom bull flag (April 7 and March 30) and want a third leg sideways to up (following December 6 and January 28), lasting many months.<\/li>\n\n\n\n
- Bulls want the 20-month EMA to act as support.<\/li>\n\n\n\n
- Bears got a pullback from a large wedge pattern (July 27, December 6, and October 29) and a micro double top (October 29 and January 28).<\/li>\n\n\n\n
- They achieved a measured move to 6,500 based on the height of the 3-month tight trading range.<\/li>\n\n\n\n
- Next, they want a larger measured move to 6,200, based on the height of the broader trading range (November 21 low to January 28 high).<\/li>\n\n\n\n
- Bears need sustained follow-through selling below the 20-month EMA to increase the odds of a successful reversal.<\/li>\n\n\n\n
- If the market trades higher, bears see it as a retest of the prior high and want a lower high major trend reversal, followed by a second leg sideways to down.<\/li>\n\n\n\n
- The market formed a pullback testing the 20-month EMA.<\/li>\n\n\n\n
- It has broken below the 10-month bull trend line, indicating increasing selling pressure.<\/li>\n\n\n\n
- The long tail below the bar suggests bears are not yet decisively strong.<\/li>\n\n\n\n
- Traders may expect a retest of the prior high (January 28), forming either a lower high or a higher high.<\/li>\n\n\n\n
- If the market trades higher, traders will watch the strength of the move\u2014whether it breaks strongly above the March high or stalls with prominent upper tails, overlapping bars, or bear bodies.<\/li>\n\n\n\n
- For now, traders will watch whether bears can generate follow-through selling in April, or if the market instead retests the prior high.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> S&P 500 E-mini chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n- \n
- This week\u2019s candlestick was a bull bar closing near its high, with a prominent lower tail.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bears could generate follow-through selling toward the 6,200 measured move area, or if the market would trade lower but reverse with a long tail below or a bull body.<\/li>\n\n\n\n
- The market traded lower early in the week but reversed to close as a strong bull reversal bar.<\/li>\n\n\n\n
- Bears previously broke below the 13-week tight trading range and achieved a measured move to 6,500 based on its height.<\/li>\n\n\n\n
- Next, they want a larger measured move to 6,200, based on the height of the broader trading range (November 21 low to January 28 high).<\/li>\n\n\n\n
- The current leg down is in a 6-bar bear microchannel and tight bear channel, indicating persistent selling.<\/li>\n\n\n\n
- Bears expect at least a small second leg sideways to down.<\/li>\n\n\n\n
- They want pullbacks to be weak and sideways, with overlapping bars and prominent upper tails.<\/li>\n\n\n\n
- Bears want the 20-week EMA to act as resistance, forming a lower high major trend reversal followed by a second leg sideways to down.<\/li>\n\n\n\n
- Bulls see the move as a deep pullback testing the December 6, 2024 breakout point and the August 1 low, and want these areas to act as support.<\/li>\n\n\n\n
- They see a 2-bar reversal and a trend channel line overshoot buy setup and want a retest of the all-time high.<\/li>\n\n\n\n
- At a minimum, bulls want a two-legged sideways to up pullback lasting a few weeks.<\/li>\n\n\n\n
- Bulls need a strong bull entry bar with follow-through to increase the odds of retesting the high.<\/li>\n\n\n\n
- If the market trades lower, bulls want a higher low relative to March 30.<\/li>\n\n\n\n
- The market recently broke below the November low with follow-through selling.<\/li>\n\n\n\n
- This week’s candlestick closed as a bull bar near its high, which could end the bear microchannel streak.<\/li>\n\n\n\n
- There could be sellers on the first pullback above such a strong bear microchannel.<\/li>\n\n\n\n
- The candlesticks over the last few weeks have large overlapping ranges with their prior bars, indicating bears are not yet decisively strong.<\/li>\n\n\n\n
- The market is likely Always In Short.<\/li>\n\n\n\n
- The recent move broke the bull trendline (March 30), indicating increasing selling pressure.<\/li>\n\n\n\n
- Traders expect a retest of the January 28 high, forming either a lower high or higher high.<\/li>\n\n\n\n
- If the market trades higher, traders will watch the strength of the move \u2014 whether it is strong with consecutive bull bars closing near their highs, or weak with overlapping candlesticks, prominent upper tails, and bear bodies.<\/li>\n\n\n\n
- For now, traders will watch whether bulls can create a strong entry bar to test the 20-week EMA, or if the market continues lower toward the 6,200 measured move, extending the bear microchannel.<\/li>\n<\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Al Brooks and other presenters talk about the detailed E-mini price action real-time each day in the Brooks Trading Course 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