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Emini Bulls Want Bull Breakout and Test of 6,100

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Trading Update: Wednesday June 11, 2025

Emini end of day video review

Emini EOD Review Joseph Imbornone

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S&P Emini market analysis

Emini daily chart

  • The Emini formed a bull bar closing on its high yesterday. The bulls are hoping that this is creating a bull breakout of the tight trading range and a test of 6,100.
  • Because the channel up is tight, there is increased risk that the bulls get the upside breakout and test above the 6,100-round number.
  • Bulls are buying because the momentum up is strong. However, if the bears start to close bear bars on their lows, bulls will begin to sell out of their long positions, betting on a trading range, especially if the bears can make money below a bar.
  • The bears need to halt the buying pressure, making the market begin to go sideways. Without more selling pressure, the odds are that we will go higher.
  • The market is getting far from the moving average, and that increases the chances that we have to go sideways and drag the moving average up to the current price.
  • The bears are allowing too much buying pressure, and therefore, that will reduce the chances of the bears getting a strong reversal down.
  • Overall, with the market being far from the moving average, the upside is probably limited. However, if we experience a reversal down, there’s likely buying pressure below. This means there will be traders willing to buy and scale in at lower prices, betting on higher prices.

Emini 5-minute chart and what to expect today

  • The Globex market formed a strong bull breakout around 8:30 EST. This was a strong enough breakout that the sell-off on the open was likely limited; therefore, it was likely to find buyers below bar one.
  • The Bears managed to get a small second leg down with 3 and 4; however, bar 4 failed to close on its low and formed a parabolic wedge on the Globex chart. This led to buyers closing on four and reversing up.
  • As of bar 12, the market is always in long and likely to test near the high of the Globex 8:30 AM EST breakout bar.
  • A trading range is more likely than the start of a bull trend, which means there will be sellers near the 8:30 Globex high. This increases the risk of bulls scaling out of long positions as the market approaches the Globex high.
  • Overall, the rally up to bar 12 is enough to make the market Always In Long. This means that the odds favor a 2nd leg up and buyers below. The bears will likely need to cause the market to go sideways if they are going to achieve a successful reversal.

Yesterday’s Emini setups

SP500 ES Emini 5-Min Chart Bear Trap Then Broad Bull Channel

Al created the SP500 Emini charts.

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 ES Emini 5-Min Chart Bear Trending Trading Range Day

Al created the SP500 Emini charts.

EURUSD Forex market analysis

EURUSD Forex daily chart

  • The EURUSD has been continuing to hold above the moving average for the past eight trading days.
  • The channel up is tight, and that lowers the probability of traders selling below bars.
  • The April 21st high is getting closer to the current price, and the odds are that the market is going to reach it.
  • The bulls want to form a bull bar closing on its high. That would increase the odds of follow-through buying tomorrow, and a test of the April 21st high.
  • The rally up to the April 21st high has been in a bull trend. Bull trends typically allow buyers to scale in lower and make money as the market evolves into a trading range. This means that bulls who bought at the April 21st high should be able to make a profit, which implies that the price will rise above it.

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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