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E-mini Bulls Want Breakout to New All-Time High

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Trading Update: Monday February 2, 2026

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 formed a weak Low 1 short last Friday. This increased the odds of today finding buyers at last Friday’s low of slightly above it.
  • The bulls want a rally and new All-time high above the January 28th high.
  • The bears do not mind a new All-time high as long as there are sellers above. At the moment, the odds favor sellers above any new high.
  • The bulls are hopeful that they will be able to form a strong bull breakout with follow-through above the January all-time high. This would increase the odds of at least a small 2nd leg up.

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

  • The E-mini formed a bull trend from the open and rallied with a five bar bull micro channel on the open.
  • This was a strong enough upside breakout that the odds favored a 2nd leg up.
  • The bulls managed to form a strong rally up to the bar 10 high. While this was a second leg up from the rally to bar 5, it was strong enough for traders to expect another leg up.
  • As of bar 42 the market has been in a bull channel that will likely convert into a trading range sometime soon. The channel up has been tight which limits the downside potential. Bears need to start getting strong closes below moving average as a sign of control.

Friday’s E-mini setups

SP500 E-mini Opening Range Bear Channel Then Breakout into Trading Range

Richard created the SP500 E-mini chart.

Here are reasonable stop entry setups from last Friday. Chart shows each buy entry bar with a green arrow and each sell entry bar with a red arrow. Buyers of the Brooks Trading Course have access to a near 4-year library of detailed explanations of swing trade setups (see Online Course/BTC Daily Setups) linked to the Brooks Encyclopedia of Chart Patterns product.

The 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 Bull Trend from Open 2 Legs Up and Then Trading Ranges

Richard created the SP500 E-mini chart.

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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