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Emini near All-Time High

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Trading Update: Tuesday February 18, 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 Bull breakout above the triangle last Thursday. The Bulls will see the breakout as strong enough for a 2nd leg up and possibly a measured move-up of the triangle that began on January 24.
  • Last Friday, a disappointing follow-through bar for the Bulls was formed. It was not a strong enough bear reversal bar to get sellers below. This increased the odds of buying below last Friday’s low.
  • The bulls are close enough to the December All-Time high that they are hopeful the market will reach it in the upcoming days.
  • The Bears hope the market will form a double top lower high major trend reversal with the January 24th high. Next, the bears want a strong reversal down and a break below the February 3rd low.

Emini 5-minute chart and what to expect today

  • The Globex market has been in a broad bull channel on the 15-minute chart for the past few days.
  • The bulls formed a recent bull breakout around 2:15 AM EST; however, a deep pullback followed. This increased the odds of a trading range and sellers above the 2:15 AM EST high, around 8:30 AM EST.
  • This increases the odds of a trading range open during the U.S. Session.
  • There is an 80% chance of a trading range and only a 20% chance of a trend from the open up or down.
  • Most traders will be better off waiting for 6-12 bars before placing a trade unless they can make quick decisions. 
  • There is often an opening swing that typically begins before the end of the second hour after forming a double top/bottom or a wedge top/bottom. A trader can wait for one of the above patterns to form before placing a trade.

Friday Emini setups – Before US holiday break

SP500 Emini 5-Min Chart Trading Range Open and Trading Range Day

Al created the SP500 Emini charts.

Here are reasonable stop entry setups from Friday (before US holiday break). 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 Trading Range Day Failed Bear Breakout

Al created the SP500 Emini charts.

EURUSD Forex market analysis

EURUSD Forex daily chart

  • The EURUSD formed a 2nd leg up following the February 5th rally. The bears hope the February 14th high is a double top with January 27th.
  • Next, the bears are hopeful that they will be able to get a series of bear bars closing on their lows. This would likely cause traders to begin to sell, betting on a successful double top.
  • More likely, buyers will be below the February 14th low, and the market will get a second leg above its high.
  • The bulls hope the momentum is strong enough to drive the market up to the December 6th high.
  • The bulls have a 6-bar bull microchannel up, which is good for the bulls and increases the odds of a 2nd leg up. This is good for the bulls. However, it is important to recognize that the market is inside a trading range. This lowers the probability for both the bulls and bears and increases the risk of trading range price action.

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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