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Emini FOMC Day Today

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Trading Update: Wednesday January 29, 2025

Emini end of day video review

Price Action Rose EOD Review

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S&P Emini market analysis

Emini daily chart

  • The Emini has formed two bull bars following last Monday’s gap down on the open. Today is an FOMC day which increases the risk of a strong move during the report bar.
  • The bears are hopeful that the gap down is strong enough that it will get a 2nd leg down.
  • The bulls are hopeful that the two day rally is strong enough to trap the bears and lead to a second leg up and test of the December high.
  • The rally up over the past two days is strong enough to get a second leg up. The bears need to halt the buying pressure if they are going to get a reversal down and test of Monday’s low.
  • Overall, traders should expect a 2nd leg up after the two-day bull breakout.

Emini 5-minute chart and what to expect today

  • The Emini formed a small gap down and sold off to bar 3 before getting a reversal up.
  • The first seven bars of the day appear to be forming a trading range open. The Bulls want the opening reversal and early low of the day with bar three.
  • The bulls see today’s selloff to bar 3 as a trendline break of the bull channel. They are hopeful that today is forming a higher low with yesterday’s channel and leads rally up to yesterday’s high.
  • Yesterday’s late bear channel down is tight. This increases the odds of a trading range open.
  • Today is an FOMC day, which increases the odds of the open having a lot of trading range price action.
  • Traders should go flat at least 30 minutes before the report at 2:00 PM EST.
  • Most traders should consider not trading the FOMC report. If one is going to trade the report, it is best to trade small and wait for at least 10 minutes after the FOMC release.

Yesterday’s Emini setups

SP500 Emini 5-Minute Chart Sell Climax and Then Small PB Bull Trend

Al created the SP500 Emini charts.

Here are reasonable stop entry setups from yesterday. 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.

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.

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.

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.

Summary of today’s S&P Emini price action

SP500 Emini 5-Minute Chart Trading Range Then Failed Bear Breakout

Al created the SP500 Emini charts.

See the weekly update for a discussion of the price action on the weekly chart and for what to expect going into next week.

Trading Room

Al Brooks and other presenters talk about the detailed Emini price action real-time each day in the BrooksPriceAction.com trading room days. We offer a 2 day free trial.

Charts use Pacific Time

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 Market Update page.

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