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Emini at the Daily Moving Average

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Trading Update: Friday May 23, 2025

Emini end of day video review

Emini EOD Review Joseph Imbornone

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

S&P Emini market analysis

Emini daily chart

  • The Emini formed a doji bar yesterday, a weak reversal bar for the bulls following Wednesday’s bear bar, closing on its low. This increased the odds of sellers above, and a second leg down to the moving average we’re getting today.
  • The Globex market managed to gap down and reach the moving average on the open of the US session today. This is likely support on the daily chart and increase the odds of a bounce and a test of Thursday’s low.
  • The bears need a break below the moving average. The market is currently testing the moving average, and the May 8th breakout point high. Both of these levels are likely to act as support.
  • The bulls still have the target of the 6,000 round number above. Earlier this week, the market came close to reaching 6,000. However, it failed when it came within 15 points of the round number. Because the round number is so important, this is probably not an adequate test of the 6000 Magnet. The market will probably have to rally and get above the round number.
  • Overall, the Bears have done a good job getting a sell-off to the moving average on the daily chart. However, the downside is probably limited because of the 6,000 round number.

Emini 5-minute chart and what to expect today

  • The US session opened with a large gap down, which was a test of the daily moving average.
  • The first six bars of the day have formed a tight trading range: breakout mode.
  • Bar 1 formed a bull bar closing on its high, which increases the risk that the Bulls will get a second leg above bar 1 and bar 2 high.
  • Bar 8 rallied above the bar 2 high, and is trying to form a bear reversal bar, closing on its low. The bears hope the market will create a double top after the gap down, leading to a sell-off.
  • More likely today will form a trading range, open and test up to the moving average.
  • While the Bears have done a good job getting the gap down, it is at support on higher timeframes that lowers the probability for the Bears getting a Bear Trend Day and increases the risk that the Bulls get a reversal.
  • Today is Friday, so weekly support and resistance are important. So far, the weekly chart has reversed most of last week’s rally, a sign of strength by the bears.
  • The Bulls want to get a rally today and prevent the weakly chart from closing when it’s low. The Bears want the opposite.
  • So far, the bulls have created two decent bull bars closing on their highs, which lowers the probability of a bear trend day. A bear trend day is still possible, but because of the higher time frame support, the odds are that today will probably be more of a trading range than a bear trend day.

Yesterday’s Emini setups

SP500 Emini 5-Min Chart HL Double Bottom Then Trading Range

Al created the SP500 Emini 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 Emini.

Summary of today’s S&P Emini price action

SP500 Emini 5-Min Chart Bull Trending Trading Range Then Profit Taking

Richard created the SP500 Emini chart – Al travelling

EURUSD Forex market analysis

EURUSD Forex daily chart

  • The EURUSD rallied up to the midpoint of the sell-off that ended on May 12th. While this is good for the Bulls, the odds are that it will probably start to go sideways soon.
  • This increases the risk that the market will experience a lot of trading range price action on the daily chart.
  • The bulls who bought the April high close of the rally will probably be forgiven. This means that the market will probably test up to the April high, allowing the Bulls out of the trade.
  • This means that the bears will probably need the market to form a credible double top before they get a chance at a major trend reversal.
  • While the Bears are hopeful that the rally up to today’s high is a credible lower high, it is a major trend reversal. It is more likely not, and the market will have to test higher before the bears can get their credible reversal attempt.
  • Without it, the chances are that whatever reversal we get will be minor and lead to a sideways market

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 Emini 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 Emini 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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