Trading Update: Thursday April 17, 2025
Emini end of day video review
S&P Emini market analysis
Emini daily chart
- The Emini broke out below Tuesday’s bearish inside bar yesterday. This increases the odds of a 2nd leg down and a test of 5,200 and the midpoint of the April Range
- Yesterday failed to close on its low and has a tail below the bar. This increases the risk of buyers below, scaling in lower.
- The bears will see yesterday as being strong enough for at least a small 2nd leg down. This increases the odds of sellers on the first reversal up.
- Because of yesterday’s tail below, today will probably not become a strong bear trend day and will likely disappoint the bears.
Emini 5-minute chart and what to expect today
- Today has little to no gap and has generated ideas for the first 10 bars of the day.
- This is why I often say that most traders should consider waiting for 6-12 bars before placing a trade.
- The bears have an opening reversal with bar 6. They are hopeful that the selloff will test down to yesterday’s low. However, the problem that the bulls face is that the rally up from yesterday’s bar 72 is strong. This increases the odds of buyers near the midpoint of the rally.
- The bear is on the swing short and will likely get a 2nd leg down after bar 10. This will make bulls hesitant to buy and likely wait to see what the 2nd leg down looks like.
Yesterday’s Emini setups
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
Al created the SP500 Emini charts.
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.
