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E-Mini Daily Chart Likely to Evolve Into Trading Range

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Trading Update: Friday August 29, 2025

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 E-mini yesterday formed a bull bar closing near its high and above the 6,500 round number.
  • While this is good for the bulls, the daily chart is likely evolving into a trading range. This means that the upside is likely going to be limited over the next several weeks.
  • The bears need to create more selling pressure if they are going to get a credible major trend reversal to the downside.
  • Most traders will be better off waiting for more selling pressure before looking to sell.
  • The chart will likely fall below the August 20th low, the most recent higher low on the chart.
  • The bears are trying to get a reversal down today; however, it is following three consecutive bull bars. This increases the risk of the selloff going sideways.
  • Bears need to get a series of closes below the moving average before traders will be convinced that the bears are gaining control.

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

  • Today gapped down and formed a bear trend from the open down to bar 8. This is a strong enough bear breakout that the odds favor a bear trend or a trading range day.
  • The minimum expectation after bar 8 was a second leg down after the selloff to bar 9. This meant that the reversal on bar 14 was likely to fail and lead to sideways trading.
  • The Bulls have a reversal up on bar 20. While the reversal up is good for the bulls, it is not yet enough for the bulls to take control due to the selling pressure on the day.
  • This means that the market can still fall below the bar 17 low.
  • Yesterday’s bar 6 low is a reasonable magnet for the bulls. Some bulls bought the six low and were willing to scale in lower. This increases the risk that the market will probably test the bar 6 low at some point today.
  • Today is Friday and therefore weekly support and resistance are important. This means that traders must be prepared for a surprise breakout late in the day as traders decide on the close of the weekly chart.
  • Because the selloff down to bar 8 was climactic, there is an increased risk of a trading range lasting for several bars and possibly several hours today.

Yesterday’s E-mini setups

SP500 E-mini 5-Min Sell Climax and Then Small PB Bull Trend

Al created the SP500 E-mini chart.

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 E-mini.

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

SP500 E-mini 5-Min Gap Down Sell Climax and Then Trading Range

Richard created the SP500 E-mini chart – Al travelling.

EURUSD Forex market analysis

EURUSD Forex daily chart

  • The EURUSD is continuing to go sideways in a trading range following the reversal up after the late July selloff.
  • The bears are hopeful that the rally from the late July selloff is a pullback that will lead to a reversal down and a test of the July low.
  • The Bulls see the reversal up from the July low as being strong enough for a 2nd leg up.
  • Because the daily chart is forming a trading range, there is an increased risk of the market going above the July 24th top of the 2nd leg down. This means that the market might go above the July 24th high and reverse back down and test the July 30th close.
  • Overall, the daily chart is forming a contracting trading range, which is in breakout mode.

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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