The Weekly<\/em> S&P 500 E-mini chart<\/h3>\n\n\n\n![\"E-mini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/05\/E-mini-Weekly-New-ATH-Buy-Vacuum-Test-TCL-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- This week formed another follow-through bull bar closing near its high in new all-time high territory.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether the market stalls around the trend channel line or the one above it near 7430.<\/li>\n\n\n\n
- The market traded higher to test the next trend channel line around 7430.<\/li>\n\n\n\n
- Bulls have generated a strong rally, with consecutive bull bars closing near their highs into new all-time highs.<\/li>\n\n\n\n
- Bulls want a measured move based on the height of the recent trading range, projecting to around 7550.<\/li>\n\n\n\n
- Bulls want a spike and channel pattern lasting several months.<\/li>\n\n\n\n
- If the market forms a pullback following a breakout above the trend channel line, bulls want the move to be weak and sideways, lacking follow-through and with overlapping candlesticks.<\/li>\n\n\n\n
- They want at least a small second leg sideways to up to retest the trend extreme high (currently May 8) following any pullback.<\/li>\n\n\n\n
- Bears view the move as a parabolic buy climax and unsustainable without a sideways-to-down pullback.<\/li>\n\n\n\n
- Bears want the trend channel line to act as resistance.<\/li>\n\n\n\n
- Bears want any breakout above the trend channel line to fail within a few bars, followed by a test of the bull trend line.<\/li>\n\n\n\n
- Bears want at least a small two-legged sideways-to-down pullback lasting a few weeks.<\/li>\n\n\n\n
- Bears need strong bear bars following any breakout attempt above the trend channel line to increase the odds of a pullback.<\/li>\n\n\n\n
- The market has rallied strongly over the past six weeks, with consecutive bull bars closing near their highs.<\/li>\n\n\n\n
- The market remains Always In Long.<\/li>\n\n\n\n
- While the move is climactic, consecutive bull bars closing near their highs indicate strength.<\/li>\n\n\n\n
- Traders will watch whether the market stalls around the trend channel line or above it.<\/li>\n\n\n\n
- If the market breaks above the trend channel line, odds slightly favor the breakout failing within 2 to 5 bars.<\/li>\n\n\n\n
- A breakout above the trend channel line would further increase the excessive nature of the parabolic buy climax, which typically leads to a pullback into the bull channel and a test of the bull trend line.<\/li>\n\n\n\n
- For now, the market could still trade at least slightly higher. However, because of the climactic nature of the rally, a pullback may occur within a few weeks.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> S&P 500 E-mini chart<\/h3>\n\n\n\n![\"E-mini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/05\/E-mini-Daily-2nd-Leg-Sideways-to-Up-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The market traded slightly lower early in the week, followed by a gap up on Wednesday and continuation higher on Friday.<\/li>\n\n\n\n
- Previously<\/a>, we said traders would watch whether bulls could create more follow-through buying into new all-time highs, or whether the market stalls nearby and forms a larger two-legged sideways-to-down pullback.<\/li>\n\n\n\n
- Bears view the rally as climactic.<\/li>\n\n\n\n
- They want the top of the trend channel line to act as resistance.<\/li>\n\n\n\n
- Bears want a failed breakout above the trend channel line, followed by a pullback to test the bull trend line.<\/li>\n\n\n\n
- Bears view the current move as the channel phase of the spike and channel pattern.<\/li>\n\n\n\n
- At a minimum, bears want a pullback to retest the start of the channel around the April 23 low area.<\/li>\n\n\n\n
- Bears see a parabolic wedge top forming (with the first two legs on May 1 and May 7).<\/li>\n\n\n\n
- Bears need consecutive strong bear bars closing near their lows to demonstrate control.<\/li>\n\n\n\n
- Bulls have generated a strong spike and channel pattern, making new all-time highs.<\/li>\n\n\n\n
- Bulls want a measured move based on the height of the trading range, projecting to around 7550.<\/li>\n\n\n\n
- They want a strong breakout above the trend channel line with sustained follow-through buying.<\/li>\n\n\n\n
- If the market forms a pullback, bulls want it to be weak and sideways, with overlapping candlesticks and prominent lower tails, followed by at least a small sideways-to-up leg to retest the trend extreme high (now May 8).<\/li>\n\n\n\n
- Bulls want the 20-day EMA or the April 23 low to act as support.<\/li>\n\n\n\n
- The market is Always In Long.<\/li>\n\n\n\n
- The market has formed a spike and channel bull trend.<\/li>\n\n\n\n
- The bull channel phase starting from the April 23 low is relatively tight, which acts as a spike on a higher time frame chart.<\/li>\n\n\n\n
- Consecutive spikes increase the odds of a pullback within a couple of weeks.<\/li>\n\n\n\n
- For now, the market could still trade slightly higher. However, the risk of a pullback is increasing.<\/li>\n\n\n\n
- Traders will watch whether bulls can create a strong breakout above the trend channel line to reach the 7500 round number or the measured move target around 7550.<\/li>\n\n\n\n
- Or will the market stall around the trend channel line, followed by a pullback to the April 23 low or the bull trend line in the weeks ahead?<\/li>\n\n\n\n
- Any pullback may only be minor, followed by at least a small sideways-to-up retest of the trend extreme high.<\/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
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n
- \n
- This week formed another follow-through bull bar closing near its high in new all-time high territory.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether the market stalls around the trend channel line or the one above it near 7430.<\/li>\n\n\n\n
- The market traded higher to test the next trend channel line around 7430.<\/li>\n\n\n\n
- Bulls have generated a strong rally, with consecutive bull bars closing near their highs into new all-time highs.<\/li>\n\n\n\n
- Bulls want a measured move based on the height of the recent trading range, projecting to around 7550.<\/li>\n\n\n\n
- Bulls want a spike and channel pattern lasting several months.<\/li>\n\n\n\n
- If the market forms a pullback following a breakout above the trend channel line, bulls want the move to be weak and sideways, lacking follow-through and with overlapping candlesticks.<\/li>\n\n\n\n
- They want at least a small second leg sideways to up to retest the trend extreme high (currently May 8) following any pullback.<\/li>\n\n\n\n
- Bears view the move as a parabolic buy climax and unsustainable without a sideways-to-down pullback.<\/li>\n\n\n\n
- Bears want the trend channel line to act as resistance.<\/li>\n\n\n\n
- Bears want any breakout above the trend channel line to fail within a few bars, followed by a test of the bull trend line.<\/li>\n\n\n\n
- Bears want at least a small two-legged sideways-to-down pullback lasting a few weeks.<\/li>\n\n\n\n
- Bears need strong bear bars following any breakout attempt above the trend channel line to increase the odds of a pullback.<\/li>\n\n\n\n
- The market has rallied strongly over the past six weeks, with consecutive bull bars closing near their highs.<\/li>\n\n\n\n
- The market remains Always In Long.<\/li>\n\n\n\n
- While the move is climactic, consecutive bull bars closing near their highs indicate strength.<\/li>\n\n\n\n
- Traders will watch whether the market stalls around the trend channel line or above it.<\/li>\n\n\n\n
- If the market breaks above the trend channel line, odds slightly favor the breakout failing within 2 to 5 bars.<\/li>\n\n\n\n
- A breakout above the trend channel line would further increase the excessive nature of the parabolic buy climax, which typically leads to a pullback into the bull channel and a test of the bull trend line.<\/li>\n\n\n\n
- For now, the market could still trade at least slightly higher. However, because of the climactic nature of the rally, a pullback may occur within a few weeks.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> S&P 500 E-mini chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n- \n
- The market traded slightly lower early in the week, followed by a gap up on Wednesday and continuation higher on Friday.<\/li>\n\n\n\n
- Previously<\/a>, we said traders would watch whether bulls could create more follow-through buying into new all-time highs, or whether the market stalls nearby and forms a larger two-legged sideways-to-down pullback.<\/li>\n\n\n\n
- Bears view the rally as climactic.<\/li>\n\n\n\n
- They want the top of the trend channel line to act as resistance.<\/li>\n\n\n\n
- Bears want a failed breakout above the trend channel line, followed by a pullback to test the bull trend line.<\/li>\n\n\n\n
- Bears view the current move as the channel phase of the spike and channel pattern.<\/li>\n\n\n\n
- At a minimum, bears want a pullback to retest the start of the channel around the April 23 low area.<\/li>\n\n\n\n
- Bears see a parabolic wedge top forming (with the first two legs on May 1 and May 7).<\/li>\n\n\n\n
- Bears need consecutive strong bear bars closing near their lows to demonstrate control.<\/li>\n\n\n\n
- Bulls have generated a strong spike and channel pattern, making new all-time highs.<\/li>\n\n\n\n
- Bulls want a measured move based on the height of the trading range, projecting to around 7550.<\/li>\n\n\n\n
- They want a strong breakout above the trend channel line with sustained follow-through buying.<\/li>\n\n\n\n
- If the market forms a pullback, bulls want it to be weak and sideways, with overlapping candlesticks and prominent lower tails, followed by at least a small sideways-to-up leg to retest the trend extreme high (now May 8).<\/li>\n\n\n\n
- Bulls want the 20-day EMA or the April 23 low to act as support.<\/li>\n\n\n\n
- The market is Always In Long.<\/li>\n\n\n\n
- The market has formed a spike and channel bull trend.<\/li>\n\n\n\n
- The bull channel phase starting from the April 23 low is relatively tight, which acts as a spike on a higher time frame chart.<\/li>\n\n\n\n
- Consecutive spikes increase the odds of a pullback within a couple of weeks.<\/li>\n\n\n\n
- For now, the market could still trade slightly higher. However, the risk of a pullback is increasing.<\/li>\n\n\n\n
- Traders will watch whether bulls can create a strong breakout above the trend channel line to reach the 7500 round number or the measured move target around 7550.<\/li>\n\n\n\n
- Or will the market stall around the trend channel line, followed by a pullback to the April 23 low or the bull trend line in the weeks ahead?<\/li>\n\n\n\n
- Any pullback may only be minor, followed by at least a small sideways-to-up retest of the trend extreme high.<\/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