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E-mini Bulls Want Breakout Above October 10th

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Trading Update: Tuesday October 21, 2025

E-mini end of day video review

Emini EOD Review Joseph Imbornone

Follow Joseph’s YouTube channel for more Al Brooks price action analysis.

S&P E-mini market analysis

E-mini daily chart

  • The E-mini is trying to get a bull breakout of the bear flag that was created over the past five trading days. The bulls want a measured move up from the October 14th low and 15th high.
  • Even if the market goes above the October 10th high, the odds favor sellers above its high. This increases the risk that bears will sell the October 10th high and look to scale in higher.
  • Because the odds favor sellers above, there is increased risk that the market will test back to the October 10th close over the next several weeks.
  • Overall, the daily chart is likely to convert into a trading range. This means that the odds favor sellers at a new all-time high, which will allow the bears to make money.

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

  • Today formed little to no gap on the open and sold off, forming a parabolic wedge with bar 7.
  • The bulls formed a strong reversal up and the market rallied up to the bar 10 close. This was a strong enough rally that the odds favored a 2nd leg up after any pullback. This meant there were likely buyers below the bar 12 low.
  • The bulls formed a strong 2nd leg up to the bar 18 close.  While the rally to bar 18 might have been a 2nd leg trap, the reality is that it was likely to find buyers on any pullback.
  • Once the market reached the bar 28 low, it formed a parabolic wedge, and the market found buyers below its low and rallied, forming a small 2nd leg up.
  • Because yesterday formed a strong bull trend bar near support, today will probably not create a strong bull trend day as well. This increases the odds of sellers above yesterday’s high and today forming a trading range.

Yesterday’s E-mini setups

SP500 E-mini 5-Min Small PB Bull Trend from Open Then Trading Range

Richard created the SP500 E-mini chart – 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

SP500 E-mini 5-Min Market Consolidation below ATH Trading Range Day

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

EURUSD Forex market analysis

EURUSD Forex daily chart

  • The EURUSD formed a couple of legs down to the October 9th low. This is due to the strong July 30th selloff. It was strong enough that the odds favored sellers above, and a test of its close.
  • Because of the reasons mentioned above, the odds favor a test of the July 30th close over the next several weeks.
  • The bulls tried to get a reversal up on October 16th, with the formation of three consecutive strong bull bars. The bears have had a reversal and follow-through over the past two days. This increases the odds of the bears getting a second leg down and a test of the October 9th close.
  • The bears are hopeful that they can trap the bulls on the recent three-bar rally and get a strong downside breakout. This would likely create enough momentum to drive the market down to the July 30th close.

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 Trading Course 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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