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E-mini Weak High 1 Late in Rally

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Trading Update: Wednesday July 23, 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 Emini yesterday formed a weak High 1 buy signal bar, late in a bull channel.
  • This increases the odds of sellers above their high.
  • The bulls will try to get a 2nd leg up after the rally up to the July 21st high.
  • The odds still favor a test back down to the July 16th high. This was a weak High 1 buy signal bar, which increases the odds that sellers will take it above its high.
  • The bears who sold the July 16th high are likely willing to scale in higher. Those bears will probably be able to exit back at the July 16th high over the next several days.
  • The daily chart is continuing to rally above the moving average. However, every bar that closes above the moving average increases the odds of a test back down to the average price.
  • The daily chart is also late in a bull channel. Both of the above reasons increase the odds of a couple of legs down and a test of the average price.

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

  • Today gapped up and sold off down to bar 6. While the gap up was good for the bears, the odds favored a test of yesterday’s high.
  • The bears did a good job with the selloff down to bar 6, and it is enough to make a bear trend of a trading range day, most likely.
  • Because of the hesitation at the moving average and yesterday’s high on bar 6, the odds favor a trading range more than a bear trend.
  • This means that the market may rally back to the bar 1 low later today.
  • The selloff down to bar 6 is strong enough for a 2nd leg down; however, the pullback might be deeper than what the bears want.
  • Overall, today will probably have a lot of trading range price action.

Yesterday’s E-mini setups

Emini 5-Min: Sell Climax, Opening Reversal, Bull Trend

Brad 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 Gap Up Bull Trend Day 1

Brad created the SP500 E-mini charts – 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 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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