{"id":273275,"date":"2026-07-15T10:38:28","date_gmt":"2026-07-15T17:38:28","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=273275"},"modified":"2026-07-15T10:38:31","modified_gmt":"2026-07-15T17:38:31","slug":"e-mini-bears-unable-to-avoid-test-of-7700-round-number","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/e-mini-bears-unable-to-avoid-test-of-7700-round-number\/","title":{"rendered":"E-mini Bears Unable to Avoid Test of 7,700 Round Number"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Wednesday July 15, 2026<\/h3>\n\n\n\n<h2 class=\"wp-block-heading\">S&amp;P E-mini market analysis<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">E-mini daily chart<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The daily chart of the E-mini continues to go sideways in a tight trading range near the 7,500 round number.<\/li>\n\n\n\n<li>The bulls want to test up to the June 15th high.<\/li>\n\n\n\n<li>The bulls are hopeful that the current upward momentum is strong enough to reach the 7,700 round number, which it probably will.<\/li>\n\n\n\n<li>The bears are hopeful that the market is going to form a double top and a lower high major trend reversal with the June 15th high.<\/li>\n\n\n\n<li>However, the reality is that, because of the buying pressure on the higher time frames and the strong rally up to the June high, the odds are that the market is going to break above the all-time high, given how climactic the higher time frames are getting.<\/li>\n\n\n\n<li>The daily chart is likely going to continue to go sideways for several months, which will likely limit the upside potential.<\/li>\n\n\n\n<li>Even if the market breaks above the all-time high, I suspect a trading range is more likely than a strong upside breakout and a measured move based on the June 1st high to the June 9th low, which is around 400 points.<\/li>\n\n\n\n<li>This means that the odds are the market is probably going to continue to go sideways in an overall trading range.<\/li>\n\n\n\n<li>However, it will likely have to test up to the all-time high over the next several weeks.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">E-mini 5-minute chart and what to expect today<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The E-mini gapped up on the open and went sideways for the first 12 bars, forming a triangle.<\/li>\n\n\n\n<li>Because the gap up was not all that strong and the bears managed to get three consecutive bear bars on bars 2, 3, and 4, it was reasonable to expect that the odds favored a second leg down for the bears, even after the rally from the bar 5 low to the bar 10 high.<\/li>\n\n\n\n<li>Bar 11 was enough of a surprise that a second leg down was likely.<\/li>\n\n\n\n<li>The bears continued to try to sell off all the way down to the bar 22 low, where the market formed a wedge bottom.<\/li>\n\n\n\n<li>However, the wedge was not all that ideal, and the signal bar at bar 22 was not ideal for the bulls either.<\/li>\n\n\n\n<li>The bulls tried to get the reversal up, but they failed to break above the moving average on bars 25, 26, and 27.<\/li>\n\n\n\n<li>Bars 27 and 28 reversed down, and the bears broke out below the wedge bottom and sold off down to the bar 39 low.<\/li>\n\n\n\n<li>While the sell-off was good for the bears, it was a bear breakout late in a bear channel inside an overall trading range.<\/li>\n\n\n\n<li>That increased the odds that the market would find buyers somewhere below the bar 22 low, and the odds favored a test back up to the bar 22 breakout point.<\/li>\n\n\n\n<li>The bulls got a decent reversal bar closing on its high at bar 39, and as of bar 48, there has been a fairly strong reversal up.<\/li>\n\n\n\n<li>The odds are that the market is going to test back to the bar 24 close and probably the open of the day.<\/li>\n\n\n\n<li>The channel from the bar 39 low to the bar 48 high is tight enough that the first reversal down is likely to be minor.<\/li>\n\n\n\n<li>This will limit the bears&#8217; selling and increase the odds that the bulls are going to get some kind of second leg up.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Yesterday&#8217;s E-mini setups<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/SP500-E-mini-5-Min-Parabolic-Bull-Wedge-Rally-to-Trading-Range-Day.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/SP500-E-mini-5-Min-Parabolic-Bull-Wedge-Rally-to-Trading-Range-Day-680x383.jpg\" alt=\"SP500 E-mini 5 Min - Parabolic Bull Wedge Rally to Trading Range Day\" class=\"wp-image-273481\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/SP500-E-mini-5-Min-Parabolic-Bull-Wedge-Rally-to-Trading-Range-Day-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/SP500-E-mini-5-Min-Parabolic-Bull-Wedge-Rally-to-Trading-Range-Day-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/SP500-E-mini-5-Min-Parabolic-Bull-Wedge-Rally-to-Trading-Range-Day-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/SP500-E-mini-5-Min-Parabolic-Bull-Wedge-Rally-to-Trading-Range-Day.jpg 1280w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Jed created the SP500 E-mini chart.<\/em><\/p>\n\n\n\n<p class=\"caption wp-block-paragraph\">Here are reasonable stop entry setups from yesterday. Chart shows each buy entry bar with a green arrow and each sell entry bar with a red arrow. Buyers of the Brooks Trading Course have access to a near 4-year library of detailed explanations of swing trade setups (see Online Course\/BTC Daily Setups) linked to the Brooks Encyclopedia of Chart Patterns product.<\/p>\n\n\n\n<p class=\"caption wp-block-paragraph\">The 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 wp-block-paragraph\">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 wp-block-paragraph\">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 E-mini.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Summary of today&#8217;s S&amp;P E-mini price action<\/h2>\n\n\n\n\n\n<p class=\"wp-block-paragraph\"><em>Jed created the SP500 E-mini chart.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">E-mini end of day video review<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Periodic end of day review videos will be moved to top of page when done.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<p class=\"wp-block-paragraph\"><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 class=\"wp-block-paragraph\">Al Brooks and other presenters talk about the detailed E-mini price action real-time each day in the Brooks Trading Course <a href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\" target=\"_blank\" rel=\"noreferrer noopener\">trading room<\/a>. We offer a 2 day free trial.<\/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 class=\"wp-block-paragraph\">When times are mentioned, it is USA Pacific Time. The E-mini 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: Wednesday July 15, 2026 S&amp;P E-mini market analysis E-mini daily chart E-mini 5-minute chart and what to expect today Yesterday&#8217;s E-mini setups Jed created the SP500 E-mini chart. Here are reasonable stop entry setups from yesterday. Chart shows each buy entry bar with a green arrow and each sell entry bar with a [&hellip;]<\/p>\n","protected":false},"author":5460,"featured_media":273481,"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":[60],"class_list":["post-273275","post","type-post","status-publish","format-standard","has-post-thumbnail","category-market-update","category-analysis","tag-sp-emini","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/SP500-E-mini-5-Min-Parabolic-Bull-Wedge-Rally-to-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\/273275","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=273275"}],"version-history":[{"count":3,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/273275\/revisions"}],"predecessor-version":[{"id":273514,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/273275\/revisions\/273514"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/273481"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=273275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=273275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=273275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}