Trading Update: Wednesday November 12, 2025
E-mini end of day video review
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S&P E-mini market analysis
E-mini daily chart
- The E-mini formed a 2nd consecutive bull bar, following last Friday’s bull reversal bar.
- This is a strong enough rally that the odds favor buyers blowing in a second leg up.
- Because the daily chart has evolved into a trading range, the odds favor sellers in the upper third of the previous bar leg down to last Friday’s low.
- This increases the odds that the current rally is going to get a pullback soon and start to go sideways.
- The bulls are hopeful that last Friday’s reversal up is strong enough for the market to reach the all-time high. Even if the market reaches its all-time high, the rally will likely not be immediate, meaning there will likely be pullbacks along the way.
- Because the daily chart has likely evolved into a trading range, the odds favor sellers above the all-time high. As a result, the upside is likely limited.
- The 7,000 big round number is not far away, and the market will still see that round number as a magnet. This means that the market may have to rally above its all-time high and reach 7,000 before the bears can achieve a credible reversal on the daily chart.
- Overall, the rally over the past few days is strong enough that the odds favor a second leg up. However, because the rally is within a trading range, the bulls may need to hold through a deep pullback first. The pullback could test all the way down to last Friday’s breakout point high before the bulls come in.
E-mini 5-minute chart and what to expect today
- Today gapped up and formed a second entry short with bar 3, and bar 3, which formed a strong entry bar on bar 4 for the Bears.
- Bars 3 and 4 were a strong enough breakout and follow-through that the odds favored a 2nd leg down, and the bears got a channel down to bar 21.
- Because of the wedge bottom down to 21, the odds favor a couple of legs sideways to up.
- The Bears will see the sell-off to 21 as being a strong enough bear breakout on a higher timeframe that the first reversal up to 25 is likely to be minor and lead to a trading range, and not the start of a strong reversal.
- Traders must be prepared for the possibility of the market having to retest the 21 close later today.
- The bulls are hoping that 22 is a major reversal, but the reality is that the channel down is tight enough that it is probably a minor reversal. This means that the Bulls will likely have to form a more credible double bottom, which would mean the market will probably retest the 21 low later today.
Yesterday’s E-mini setups
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
Richard created the SP500 E-mini chart – Al travelling.
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.
