{"id":273833,"date":"2026-07-21T11:06:58","date_gmt":"2026-07-21T18:06:58","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=273833"},"modified":"2026-07-21T11:07:01","modified_gmt":"2026-07-21T18:07:01","slug":"e-mini-breakout-mode-on-daily-chart-2","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/e-mini-breakout-mode-on-daily-chart-2\/","title":{"rendered":"E-mini Breakout Mode on Daily Chart"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Trading Update: Tuesday July 21, 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, which is a triangle.<\/li>\n\n\n\n<li>The range is contracting.<\/li>\n\n\n\n<li>Yesterday the bears formed a bear bar closing on its low.<\/li>\n\n\n\n<li>Today, so far, it looks like the bulls are going to form a bull bar closing on its high.<\/li>\n\n\n\n<li>Because of the higher time frame context, the odds are that the bulls are going to get the upside breakout of the triangle, and therefore the odds favor a test of the all-time high and the 7700 round number.<\/li>\n\n\n\n<li>Even if the market first sells off back to the June 26th low or even the June 9th low, the reality is that there are buyers below willing to scale in lower.<\/li>\n\n\n\n<li>This limits the downside potential for the bears and increases the odds that the bulls will be willing to buy and scale in lower.<\/li>\n\n\n\n<li>Even if the market does sell off, there will likely be buyers below, and the market will probably test the all-time high.<\/li>\n\n\n\n<li>The triangle has lasted for several bars, so it is in breakout mode, and that increases the odds that the market is probably going to get the upside breakout.<\/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 sold off for the first three bars of the day.<\/li>\n\n\n\n<li>Because of the overlap on bars 1 and 2, it increased the odds that the sell-off to bar 3 was a two-legged pullback, testing the moving average after the gap up.<\/li>\n\n\n\n<li>The bulls expected the gap up to get some kind of second leg, and therefore when the market formed a bull bar on bar 4, it was reasonable for the bears to get out.<\/li>\n\n\n\n<li>Most of the time when the market opens, it forms a trading range, and therefore at least 50% of the time the initial direction on the open \u2014 in this case down \u2014 is likely the wrong direction.<\/li>\n\n\n\n<li>The bulls ended up getting a series of bull bars on bars 4, 5, 6, and 7, which increased the odds of a second leg, and by bar 12 the market broke out to a new high today.<\/li>\n\n\n\n<li>The market formed a pair block wedge with bar 12.<\/li>\n\n\n\n<li>It was a strong enough breakout on a higher time frame that the odds favored a second leg.<\/li>\n\n\n\n<li>The bears tried to break to the downside during bars 14 through 17; however, they were unable to clearly break below the moving average.<\/li>\n\n\n\n<li>Instead, the bulls got the reversal up on bar 20.<\/li>\n\n\n\n<li>The market formed a strong rally from bar 20 to bar 24, and it was likely to get some kind of second leg, which it did up to bar 42.<\/li>\n\n\n\n<li>As of bar 53, the market is in a small pullback bull trend, and the bears are hopeful that bar 53 is a lower high major trend reversal.<\/li>\n\n\n\n<li>The problem for the bears is the lack of selling pressure.<\/li>\n\n\n\n<li>Realistically, the bears probably need more selling pressure and bars closing below the moving average before traders will begin to think about the possibility of the start of a bear trend.<\/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-Spike-Channel-Bear-Trend-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-Spike-Channel-Bear-Trend-Day-680x383.jpg\" alt=\"SP500 E-mini 5 Min- Spike &amp; Channel Bear Trend Day\" class=\"wp-image-273830\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/SP500-E-mini-5-Min-Spike-Channel-Bear-Trend-Day-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/SP500-E-mini-5-Min-Spike-Channel-Bear-Trend-Day-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/SP500-E-mini-5-Min-Spike-Channel-Bear-Trend-Day-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/07\/SP500-E-mini-5-Min-Spike-Channel-Bear-Trend-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: Tuesday July 21, 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":273830,"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-273833","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-Spike-Channel-Bear-Trend-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\/273833","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=273833"}],"version-history":[{"count":3,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/273833\/revisions"}],"predecessor-version":[{"id":273867,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/273833\/revisions\/273867"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/273830"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=273833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=273833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=273833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}