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E-mini Bulls Want Breakout Above All-Time High

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Trading Update: Tuesday February 10, 2026

E-mini end of day video review

Emini EOD Review Joseph Imbornone

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

S&P E-mini market analysis

E-mini daily chart

  • The daily chart formed another bull bar, closing on its high, creating follow-through after Friday’s bull reversal bar.
  • The bulls are hopeful that the consecutive bull bars are strong enough to get a second leg up and a test of the all-time high.
  • Next, the bulls are hopeful that the prior momentum in the bull trend is strong enough to lead to an upside breakout of the six-month trading range.
  • Traders will pay close attention to see what the test of the all-time high looks like.
  • The bulls ideally need a clear breakout and follow-through beyond the trading range of the January 28th high.
  • Without it, traders will be hesitant and question whether any breakout beyond the range is successful.
  • Trading ranges can last for a long time, and because of that, most traders should be patient and wait for clarity. This means waiting for a clear breakout with follow-through beyond the range.
  • The bearers don’t mind a new all-time high as long as their seller is above, and the market reverses down.
  • Even if the bears do get a reversal down, because of how bullish the higher timeframes have been, such as the weekly chart. Whatever reversal we get will probably be bought. This realistically will limit the downside and increase the probability that there will be buyers below the November low if we get there.

E-mini 5-minute chart and what to expect today

  • Today formed a small gap up on the open and has gone sideways for the first 28 bars, forming a triangle, which is a variation of breakout mode.
  • The market has been in a trading range since yesterday’s bar 27. While the odds favor a breakout up or down at some point, traders should assume that this trading range can last for a long time, and therefore, they should be hesitant to bet on successful breakouts.
  • Trading ranges are constantly trying to make you think that the breakout is going to be successful. The reality is, if the market is going to form a strong breakout up or down, there will be plenty of time to enter the trade. That’s why traders should wait for a series of strong trend bars breaking beyond the range before betting on the breakout.
  • Because of the higher time frame context, the bears are hopeful that they can disappoint the bulls and get a reversal down today. This would remind traders on the higher time frames, such as the daily chart, that the market is in the trading range, which would disappoint the bulls hoping for the upside breakout.

Yesterday’s E-mini setups

SP500 E-mini Bull Trend from Open Truncated Wedge Then Trading Range

Richard created the SP500 E-mini chart.

Here are reasonable stop entry setups from yesterday. Chart shows each buy entry bar with a green arrow and each sell entry bar with a red arrow. Buyers of the Brooks Trading Course have access to a near 4-year library of detailed explanations of swing trade setups (see Online Course/BTC Daily Setups) linked to the Brooks Encyclopedia of Chart Patterns product.

The 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 E-mini.

Summary of today’s S&P E-mini price action

SP500 ES E-mini Bear Trending Trading Range Day

Richard created the SP500 E-mini chart.

EURUSD Forex market analysis

EURUSD Forex daily chart

  • The EURUSD has been going sideways in a trading range for the past eight months and recently broke to the upside. While the breakout was strong enough for a second leg up, because of all the trading range price action, it was reasonable to expect the market to test breakout points, such as the December 24th high of last year.
  • The bears managed to form a parabolic wedge from the January high, and the bulls had a decent bull reversal bar on February 6th. Because the rally up to the January high was strong enough for a second leg, many traders would buy back their shorts above the February 6 high, and bulls would consider buying, betting on at least a bounce.
  • Yesterday formed a strong enough entry bar for the bulls that traders will expect a second leg up in a test of the January high. The bears are hopeful that the test of the January high is weak, and the market forms a double top and reverses back down to the February 6 low, which would be the neckline.  This would create a failed breakout above the eight-month trading range.

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 E-mini price action real-time each day in the Brooks Trading Course trading room. We offer a 2 day free trial.

Charts use Pacific Time

When times are mentioned, it is USA Pacific Time. The E-mini 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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