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Emini Bear Ending Bull Micro Channel Streak

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Trading Update: Tuesday July 29, 2025

E-mini end of day video review

Brad Wolff Emini EOD Review

S&P E-mini market analysis

E-mini daily chart

  • The Emini is continuing to climb higher on the daily chart, forming a prolonged micro-channel far from the daily moving average.
  • The bulls are continuing to show their strength by keeping the market in the micro channel.
  • However, as I’ve been saying for the past several days, the market is getting climactic, and therefore, the risk is getting big for the bulls.
  • Today has an increased risk of going outside down and ending the micro channel on the daily chart.
  • The bulls who are buying are momentum bulls, they’re not buying because the market is cheap. They’re buying because they believe that the next tick is going to go higher.
  • Once momentum bulls detect hesitation and loss of momentum, they will be quick to sell out of their longs, which could lead to a sell-off and test of the moving average.
  • It’s reasonable for the Bulls to exit below any bar closing on its low. Therefore, if today is a decent bear bar, it’ll probably get at least a small second leg down.
  • The odds favor a test of the moving average on the daily chart, which means the upside is probably limited.
  • Because the market is in a bull channel and channels convert into trading ranges, the odds favor a test down to the most recent major higher low, which is the July 16th high.
  • Well, the odds favor a test down. The odds of the Bears getting a strong major reversal are low without first forming a major trend reversal. This means that realistically, the best the Bears can expect is a trading range in sideways on the daily chart.

E-mini 5-minute chart and what to expect today

  • The Emini gapped up today. on the open, it formed a bear breakout on bars 3 and 4.
  • This increases the odds of a second leg down, which the Bears got on the sell-off down to bar 17.
  • As a bear 17, the market is always in short and is likely to test down to yesterday’s low, ending the bull micro channel streak on the daily chart.
  • The channel down to the bar 21 is tight, and therefore the odds are the first reversal up will be minor.
  • Overall, the sell-off down to bar 21 is creating a strong breakout on the 15-minute chart. Therefore, the odds favor a second leg down in a test of yesterday’s low.
  • The Bulls need to first make the market go sideways for several bars and stabilize, then they’ll have a chance at a reversal. Without this, the odds favor lower prices.

Yesterday’s E-mini setups

Emini 5-Min Opening Trading Range Then Bear Channel EOD Profit Taking

Richard created the SP500 E-mini charts – Al travelling.

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 E-mini.

Summary of today’s S&P E-mini price action

Emini 5-Min Bear Trend From Open Sell Climax Then Trading Range

Richard created the SP500 E-mini charts – Al travelling.

EURUSD Forex market analysis

EURUSD Forex daily chart

  • The EURUSD formed a strong bear breakout yesterday, closing below the moving average.
  • Yesterday’s breakout was enough of a surprise that the odds favor at least a small second leg down.
  • The bears are trying to get follow-through selling after yesterday’s bear breakout today.
  • The more that today closes on its low and looks like yesterday’s bar, the higher the probability that the bears will get a second leg and possibly a measured move down.
  • The bears are hopeful that the sell-off from the July 24th high is a credible lower high, major trend reversal.
  • Currently, the market is Always In Short, and the odds favor a second leg down.
  • Traders are paying close attention to see what kind of follow-through the bears can get today. The bigger the follow-through bar, the more likely the market is to go lower.
  • Even if today forms a bull bar, the odds are against the bulls immediately getting a reversal up without the bears getting at least some kind of second leg down.

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 E-mini price action real-time each day in the Brooks Price Action trading room. We offer a 2 day free trial.

Charts use Pacific Time

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 Market Update page.

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