Trading Update: Tuesday April 29, 2025
Emini end of day video review
S&P Emini market analysis
Emini daily chart
- The Emini formed a small doji bar yesterday following last Friday’s bull follow-through bar on the daily chart.
- The Bulls are trying to get the upside breakout in a larger second leg after the April 9th strong bull breakout bar. However, the bulls are losing momentum so far, which increases the chances that the market may pull back.
- Yesterday was a doji and a sign that the Bulls are losing momentum. This increases the chances that today may try to form a bear reversal bar, closing on its low.
- More likely, today will disappoint the Bulls and the Bears and fail to be a strong Bear reversal bar closing on its low.
- At the moment, the market is still always in a long position from the reversal up around April 21st, and the odds favor higher prices.
- The weekly chart formed a large outside-up bar, closing on its high, increasing the chances that this week will create a disappointment bar for the Bulls.
- This means that the next couple of days will probably have a lot of trading range price action on the daily chart, which means there’s increased risk that the market will probably not go a lot higher or lower.
Emini 5-minute chart and what to expect today
- Today, a small gap was formed, and bar 1 formed a bull reversal bar closing near its high. The Bulls managed to get a parabolic wedge up to the bar 8 high, which broke above yesterday’s high.
- The parabolic wedge was a bull leg in a trading range, and the bears managed to get a sell-off down to the 12 low and a 5-bar bear microchannel. This increases the odds that the first reversal up will probably be sideways.
- As of bar 12, today, there has been a lot of trading range price action. This increases the odds that the market will continue to have a lot of trading range price action for the rest of the day.
- So bulls are trapped if they bought during eight and scaled in lower, and they’ll probably use the reversal up on 13 or 14 to look to sell out of longs. The Bears need to prevent the Bulls from getting a strong reversal on 13 and 14, which would increase the odds of a second leg.
- Even if the market gets above the 8 high, sellers will probably be above it, especially if the bears can make the market go sideways.
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.
EURUSD Forex market analysis
EURUSD Forex daily chart
- The EURUSD It’s continuing to go sideways on the daily chart following last week’s bear breakout with follow-through.
- The Bulls are hopeful that the reversal down last week is just a pullback in the tight bull channel that will lead to a breakout and a new high on the rally.
- The Bears want the opposite. They’re hopeful that yesterday was a brief two-legged pullback after last week’s Bear breakout and follow-through that leads to a second leg down and a test of the moving average.
- The Bears’ problem is that the Bulls are getting a lot of closes above the moving average. And the last close, which was entirely below the moving average, was in March.
- Overall, the bears are doing a good job of making the market sideways, but they need to do more. Ideally, they need a clear bear breakout with follow-through, closing below the moving average.
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.
