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E-mini Possible Pullback Before Test of 7,000

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Trading Update: Tuesday December 2, 2025

S&P E-mini market analysis

E-mini daily chart

  • The Emini formed a High 1 buy signal bar yesterday. The bulls have strong momentum, which increases the odds of a 2nd leg up. However, yesterday’s High 1 buy signal bar is forcing bulls to buy high in a possible trading range on the daily chart.
  • Because yesterday’s High 1 buy signal bar was weak, traders will expect sellers above yesterday’s high. This increases the risk that the daily chart may have a pullback lasting a couple of legs before the bulls can get a 2nd leg up and a test of the 7,000 round number.
  • Bulls will pay close attention to see what kind of follow-through buying they can create. If the bulls make a bull bar that closes on its high, the probability that the High 1 buy signal bar will work and lead to higher prices increases.
  • This lowers the probability for the bulls buying above yesterday’s buy signal bar. Another problem the bulls face is that yesterday’s buy signal bar closed below its midpoint. This lowers the probability for the bulls and increases the odds of sellers above.
  • Overall, the rally is strong enough that the odds favor a 2nd leg up and a test of the 7,000 round number. Even if the bulls find sellers above yesterday’s High 1 buy signal bar and the market pulls back, the odds will likely favor buyers not far below.

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

  • Today gapped up on the open and formed an expanding triangle for the first 2 hours.
  • The expanding triangle had several sudden reversals up and down, making it difficult for breakout traders hoping for a successful breakout and measured move based on the opening range.
  • The bears tried to get a downside breakout of the opening range on bar 23. However, the bear breakout bar was climactic, and the follow-through selling on bar 24 was weak. This increased the odds of the selloff to bar 24 being part of a bear leg in what was likely to become a trading range.
  • The bulls ended up getting a strong reversal up from the low of bar 25 and a test of the Open of the Day.
  • The bulls are hopeful that bars 33-34 are a strong enough bull breakout that the odds will favor a 2nd leg up and a test of today’s high.
  • While a 2nd leg up after the 33-34 bull breakout is likely, the odds are against the market going above the high of the day without a deep pullback first.
  • The odds are against the market continuing to break extremes. This means that we have likely seen the low of the day for the rest of the day.

Yesterday’s E-mini setups

SP500 E-mini 5-Min TR Open into Bull Channel Then Reversal

Richard created the SP500 E-mini chart.

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 Expanding Triangle Opening in Trading Range Day

Richard created the SP500 E-mini chart.

E-mini end of day video review

Periodic end of day review videos will be moved to top of page when done.

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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