{"id":117815,"date":"2021-07-03T01:30:00","date_gmt":"2021-07-03T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=117815"},"modified":"2021-07-11T01:10:08","modified_gmt":"2021-07-11T08:10:08","slug":"emini-extreme-buy-climax","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-extreme-buy-climax\/","title":{"rendered":"Emini in July extreme buy climax but 1st reversal will be minor"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Weekend Market Analysis<\/h2>\n\n\n\n<p>The <strong>SP500 Emini<\/strong> futures is breaking strongly above a 3-month bull channel in an extreme buy climax. The magnets above are the top of the bull channel and measured move targets. Since there have been 11 days without a pullback, there should be a brief pullback next week.<\/p>\n\n\n\n<p>The <strong>EURUSD <\/strong>Forex market has been in a trading range for a year with no sign that it is about to end. If July reverses up, there will be a triangle. If July continues down, it will probably not fall far below the bottom of the range.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">EURUSD Forex market <\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The EURUSD <em>monthly <\/em>chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-monthly-candlestick-chart-in-trading-range.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-monthly-candlestick-chart-in-trading-range-680x383.png\" alt=\"EURUSD Forex monthly candlestick chart in trading range\" class=\"wp-image-117990\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-monthly-candlestick-chart-in-trading-range-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-monthly-candlestick-chart-in-trading-range-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-monthly-candlestick-chart-in-trading-range-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-monthly-candlestick-chart-in-trading-range-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/EURUSD-Forex-monthly-candlestick-chart-in-trading-range.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>June was big bear bar. It closed on its low and far below the May low. <\/li><li>Reversing down from a lower high after last year&#8217;s wedge rally to a double top with the February 2018 high. <\/li><li>Bears want a trend reversal. They hope for a break below the November low at the bottom of the yearlong trading range and then a measured move down to the 2017 low.<\/li><li>But markets resist change, and the market is in a trading range. This selloff therefore will probably not break strongly below the November low.<\/li><li>More likely, the trading range will continue, even if there is a small break below that low.<\/li><li>Last month was a Bear Surprise Bar. But it is in a trading range, and therefore reversals are more likely than trends. <\/li><li>There have been many big bull and bear bars over the past year. Every one reversed immediately or after one more bar. That is what is likely this time.<\/li><li>That means there might be some follow-through selling in July, but July will probably not break strongly below the range.<\/li><li>So far, July is reversing up from below the June low. If the reversal up continues, but forms a lower high, then there will be a triangle that began in November.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">S&amp;P500 Emini futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Monthly<\/em> Emini chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-monthly-candlestick-chart-in-strong-bull-trend-buy-parabolic-wedge-buy-climax.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-monthly-candlestick-chart-in-strong-bull-trend-buy-parabolic-wedge-buy-climax-680x383.png\" alt=\"Emini S&amp;P500 monthly candlestick chart in strong bull trend buy parabolic wedge extreme buy climax.\" class=\"wp-image-117993\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-monthly-candlestick-chart-in-strong-bull-trend-buy-parabolic-wedge-buy-climax-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-monthly-candlestick-chart-in-strong-bull-trend-buy-parabolic-wedge-buy-climax-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-monthly-candlestick-chart-in-strong-bull-trend-buy-parabolic-wedge-buy-climax-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-monthly-candlestick-chart-in-strong-bull-trend-buy-parabolic-wedge-buy-climax-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-monthly-candlestick-chart-in-strong-bull-trend-buy-parabolic-wedge-buy-climax.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>July gapped above the June high by 1 tick. Small gaps typically quickly close, and this one closed within the 1<sup>st<\/sup> few minutes of the month on Thursday. <\/li><li>Next monthly target is measured move up at 4,537, based on height of pandemic crash (from February 2020 high to March 2020 low).<\/li><li>June was the 5<sup>th<\/sup> consecutive bull bar. There have not been 6 consecutive bull bars since the pandemic low. That increases the chance that July will close below its open.<\/li><li>If July has a bear body, July would be the end of a parabolic wedge rally (3 legs up in a tight bull channel) from the March 2020 low. That would probably lead to profit taking and a 2- to 3-month sideways to down pullback. <\/li><li>Traders will buy that 1<sup>st<\/sup> pullback, and therefore it should be only a minor reversal in a strong bull trend.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> S&amp;P500 Emini futures chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-weekly-candlestick-chart-in-small-pullback-bull-trend-1.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-weekly-candlestick-chart-in-small-pullback-bull-trend-1-680x383.png\" alt=\"Emini S&amp;P500 weekly candlestick chart in small pullback bull trend\" class=\"wp-image-117999\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-weekly-candlestick-chart-in-small-pullback-bull-trend-1-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-weekly-candlestick-chart-in-small-pullback-bull-trend-1-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-weekly-candlestick-chart-in-small-pullback-bull-trend-1-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-weekly-candlestick-chart-in-small-pullback-bull-trend-1-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-weekly-candlestick-chart-in-small-pullback-bull-trend-1.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Tight bull channel so strong bull trend. Next targets are the top of the bull channel and the measured move based on the height of the pandemic crash. <\/li><li>Small Pullback Bull Trend for more than 60 bars, which is getting unusual. That increases the chance of the strong bull trend converting into a weaker bull trend.<\/li><li>A Small Pullback Bull Trend ends with a big pullback. &#8220;Big&#8221; means bigger than any pullback in the Small Pullback Bull Trend. The biggest pullback was 10% and it lasted 2 months (September and October).<\/li><li>Therefore, the strong trend will end once there is a 15 &#8211; 20% pullback. That pullback will probably last more than 2 months, and it will probably come this year.<\/li><li>There is no sign that the pullback is about to begin, other than this trend lasting longer than most Small Pullback Bull Trends.<\/li><li>Traders will buy the selloff, even if it is 20%. A 20% selloff is a bear &#8220;market.&#8221; <\/li><li>But it will likely only be a pullback on the weekly and monthly charts, not a bear trend.<\/li><li>A bear trend is a series of lower highs and lows, and it typically lasts at least 20 bars.<\/li><li>While that could happen this year on the daily chart, it should not happen on the weekly or monthly charts.<\/li><li>The best the bears can hope to get this year is a trading range for a few months. <\/li><li>The low could be as much as 20% down from the high, but traders will buy it, expecting at least a test of the old high, which would be the top of the trading range. <\/li><li>The bulls hope that the rally from the pullback low will be a resumption of the yearlong bull trend and not simply a test of the old high.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> S&amp;P500 Emini futures chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-daily-candlestick-chart-in-strong-bull-trend-with-meausred-move-and-top-on-bull-channel-as-next-resistance-1.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-daily-candlestick-chart-in-strong-bull-trend-with-meausred-move-and-top-on-bull-channel-as-next-resistance-1-680x383.png\" alt=\"Emini S&amp;P500 daily candlestick chart in strong bull trend with meausred move and top on bull channel as next resistance\" class=\"wp-image-118000\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-daily-candlestick-chart-in-strong-bull-trend-with-meausred-move-and-top-on-bull-channel-as-next-resistance-1-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-daily-candlestick-chart-in-strong-bull-trend-with-meausred-move-and-top-on-bull-channel-as-next-resistance-1-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-daily-candlestick-chart-in-strong-bull-trend-with-meausred-move-and-top-on-bull-channel-as-next-resistance-1-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-daily-candlestick-chart-in-strong-bull-trend-with-meausred-move-and-top-on-bull-channel-as-next-resistance-1-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-daily-candlestick-chart-in-strong-bull-trend-with-meausred-move-and-top-on-bull-channel-as-next-resistance-1.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Strong rally from the June 18 low.<\/li><li>11-bar bull micro channel. That means every low was at or above the low of the prior bar. It is a sign of strong, relentless buying.<\/li><li>It is also extreme and it will soon attract profit taking. Should be a 1- to 3-day pullback within next few days.<\/li><li>Bulls will buy the 1<sup>st<\/sup> pullback.<\/li><li>Bears typically need at least a micro double top before they can get more than a few days down from a micro channel.<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Measured move target around 4,400<\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>Breakout above 3-month trading range.<\/li><li>Several choices for top and bottom of range. Many computers will use May 7 high and May 12 low. Measured move up is 4,404.<\/li><li>Top of bull channel is around 4,450, and it is also a magnet above.<\/li><li>The strength of this breakout is similar to that of the early April breakout. Odds favor higher prices, even if enters a trading range, like after April&#8217;s strong breakout.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Trading Room<\/h2>\n\n\n\n<p>Traders can see the end of the day <a rel=\"noreferrer noopener\" href=\"http:\/\/www.brookspriceaction.com\/profile.php?mode=profil&amp;sub=profile_prefer&amp;mod=0\" target=\"_blank\">bar-by-bar price action report by signing up<\/a> for free at BrooksPriceAction.com. I talk about the detailed Emini price action real-time throughout the day in the BrooksPriceAction.com <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\" target=\"_blank\">trading room<\/a>. We offer a <a rel=\"noreferrer noopener\" href=\"http:\/\/www.brookspriceaction.com\/portal.php?page=11\" target=\"_blank\">2 day free trial<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Weekly Reports Archive<\/h2>\n\n\n\n<p>You can access all weekly reports on the <a class=\"rank-math-link\" rel=\"noreferrer noopener\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Weekend Market Analysis The SP500 Emini futures is breaking strongly above a 3-month bull channel in an extreme buy climax. The magnets above are the top of the bull channel and measured move targets. Since there have been 11 days without a pullback, there should be a brief pullback next week. The EURUSD [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":117993,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[136],"tags":[282,281,60],"class_list":{"0":"post-117815","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analysis","8":"tag-buy-climax","9":"tag-eurusd-forex","10":"tag-sp-emini","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/07\/Emini-SP500-monthly-candlestick-chart-in-strong-bull-trend-buy-parabolic-wedge-buy-climax.png","author_info":{"display_name":"Al","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/albrooks\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/117815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=117815"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/117815\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/117993"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=117815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=117815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=117815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}