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Emini Likely to Bounce over the Next Few Trading Days

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Trading Update: Wednesday March 5, 2025

Emini end of day video review

Brad Wolff Emini EOD Review

S&P Emini market analysis

Emini daily chart

  • Yesterday, the Emini tried to form a bull reversal bar; however, it sold off late in the day and closed as a bear bar.  While this is good for the bears, the market has not successfully broken out of the January 13th support. This increases the odds of a bounce as soon as bears take partial profits.
  • The bears will see yesterday as follow-through selling in the tight bear channel from the February 19th high.
  • While the bears have done a good job getting a selloff below the January 13th low, triggering the double top with the All-time high, the selloff looks like a bear leg in what will become a trading range. This increases the odds of buyers below the January 13th low and the market getting a bounce.
  • If the market gets a bounce, the bears are hopeful it will form a lower high, and the bears will still get the measured move down based on the three-month trading range.

Emini 5-minute chart and what to expect today

  • The Emini gapped down on the open. However, the gap is small. This increases the odds of buyers below and the market testing up to yesterday’s close.
  • While yesterday’s late selloff was strong, it increased the odds of today getting a bounce. This is due to the risk being big for the bears.
  • The bulls are hopeful that today will form a strong rally and a bull reversal bar following yesterday’s breakout below the January 13th low.
  • The bulls will likely need to form a better bottom than they currently have with bar 1. This means that the market will probably fall below the bar 1 low.
  • The bears may need a second leg down below yesterday’s selloff. This would drive the market below yesterday’s bar 77 low.
  • Overall, today’s open is likely forming a trading range. This means that trades will expect today’s open to have a lot of trading range price action. Most traders will be better off waiting 6-12 bars before placing a trade. This is because the odds are against a strong upward trend during the first hour.

Yesterday’s Emini setups

SP500 Emini 5-Min Chart Bear Trend From Open and Then Reversal Up

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 Emini 5-Min Chart Triangle Open Bear Breakout Failed

Al created the SP500 Emini charts.

EURUSD Forex market analysis

EURUSD Forex daily chart

  • The EURUSDD is getting a strong upside breakout following the reversal from last week’s three-bar selloff.
  • The March 3rd bull breakout bar was strong, trapping bears. Once the following day (March 4th) formed an even stronger follow-through bar, those trapped bears quickly began to buy back shorts, and bulls began buying aggressively. This is why today, a strong bull breakout bar is being formed.
  • At the moment, the odds favor a 2nd leg up and buyers on the first reversal attempt.
  • The bulls want a measured move up of the four-month trading range.
  • At the moment, there is no reason for the bears to sell. The current bull rally is too strong.

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 BrooksPriceAction.com trading room days. 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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