{"id":122496,"date":"2021-10-03T01:30:00","date_gmt":"2021-10-03T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=122496"},"modified":"2021-10-03T07:37:45","modified_gmt":"2021-10-03T14:37:45","slug":"emini-streak-on-monthly-chart-ended","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-streak-on-monthly-chart-ended\/","title":{"rendered":"Emini 7 consecutive bull bar streak on monthly chart ended in September"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"0-weekend-report-co-author-andrew-a\">Weekend report co-author Andrew A.<\/h5>\n\n\n<div style=\"max-width: -moz-fit-content; \" class=\"wp-block-ub-table-of-contents-block ub_table-of-contents\" id=\"ub_table-of-contents-558ba2a3-c1fa-4103-b74e-a8cb69d9f709\" data-linktodivider=\"false\" data-showtext=\"show\" data-hidetext=\"hide\" data-scrolltype=\"auto\" data-enablesmoothscroll=\"false\" data-initiallyhideonmobile=\"false\" data-initiallyshow=\"true\"><div class=\"ub_table-of-contents-header-container\" style=\"\">\n\t\t\t<div class=\"ub_table-of-contents-header\" style=\"text-align: left; \">\n\t\t\t\t<div class=\"ub_table-of-contents-title\" style=\"\">Weekend report table of contents  <\/div>\n\t\t\t\t<div class=\"ub_table-of-contents-header-toggle\">\n\t\t\t<div class=\"ub_table-of-contents-toggle\" style=\"\">\n\t\t\t\u00a0[<a class=\"ub_table-of-contents-toggle-link\" href=\"#\" style=\"\">hide<\/a>]\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div><div class=\"ub_table-of-contents-extra-container\" style=\"\">\n\t\t\t<div class=\"ub_table-of-contents-container ub_table-of-contents-1-column \">\n\t\t\t\t<ul style=\"\"><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-streak-on-monthly-chart-ended\/#1-market-overview-weekend-market-analysis\" style=\"\">Market Overview: Weekend Market Analysis<\/a><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-streak-on-monthly-chart-ended\/#2-eurusd-forex-market-\" style=\"\">EURUSD Forex market<\/a><ul><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-streak-on-monthly-chart-ended\/#3-the-eurusd-monthly-chart\" style=\"\">The EURUSD monthly chart<\/a><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-streak-on-monthly-chart-ended\/#4-the-eurusd-weekly-chart\" style=\"\">The EURUSD weekly chart<\/a><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-streak-on-monthly-chart-ended\/#5-the-eurusd-daily-chart\" style=\"\">The EURUSD daily chart<\/a><\/li><\/ul><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-streak-on-monthly-chart-ended\/#6-sampp500-emini-futures\" style=\"\">S&amp;P500 Emini futures<\/a><ul><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-streak-on-monthly-chart-ended\/#7-the-monthly-emini-chart\" style=\"\">The Monthly Emini chart<\/a><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-streak-on-monthly-chart-ended\/#8-the-weekly-sampp500-emini-futures-chart\" style=\"\">The Weekly S&amp;P500 Emini futures chart<\/a><\/li><li style=\"\"><a href=\"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-streak-on-monthly-chart-ended\/#9-the-daily-sampp500-emini-futures-chart\" style=\"\">The Daily S&amp;P500 Emini futures chart<\/a><\/li><\/ul><\/li><\/ul>\n\t\t\t<\/div>\n\t\t<\/div><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"1-market-overview-weekend-market-analysis\">Market Overview: Weekend Market Analysis<\/h2>\n\n\n\n<p>The&nbsp;<strong>SP500 Emini<\/strong>&nbsp;futures contract ended its 7 consecutive bull bars streak on monthly chart with an outside down bear bar in September. This will probably result in at least a couple months of sideways to down trading, but a pullback and then a new high is more likely than a bear trend on the monthly chart. There is a 50% chance that a 15% correction is underway, but there might be one more brief new high first.<\/p>\n\n\n\n<p>The&nbsp;<strong>EURUSD&nbsp;<\/strong>Forex formed an outside down bear candlestick in September. Furthermore, it closed below November 2020 low, which was the bottom of the yearlong trading range. The bears want a 700-pip measured move down. However, it is more likely that the breakout will fail around the March high, which was the breakout point of the summer rally and around a 50% retracement.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"2-eurusd-forex-market-\">EURUSD Forex market <\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"3-the-eurusd-monthly-chart\">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\/10\/EURUSD-Monthly-chart-Sept-close-has-Bear-Bar-below-Nov-2020.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Monthly-chart-Sept-close-has-Bear-Bar-below-Nov-2020-680x383.png\" alt=\"EURUSD Monthly Chart - September close has Bear Bar below Nov 2020 Low\" class=\"wp-image-122816\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Monthly-chart-Sept-close-has-Bear-Bar-below-Nov-2020-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Monthly-chart-Sept-close-has-Bear-Bar-below-Nov-2020-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Monthly-chart-Sept-close-has-Bear-Bar-below-Nov-2020-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Monthly-chart-Sept-close-has-Bear-Bar-below-Nov-2020-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Monthly-chart-Sept-close-has-Bear-Bar-below-Nov-2020.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>October\u2019s candlestick currently is a small inside bar, after September formed an outside down bar.<\/li><li>It closed below the November 2020 low, which is the bottom of a yearlong trading range.<\/li><li>Because EURUSD closed near the lows, odds favor the EURUSD to trade at least slightly lower in October.<\/li><li>The bears want a 700-pip measured move lower. They will need October to be a strong bear follow-through to convince traders that the yearlong trading range has ended and that the EURUSD has evolved into a bear trend. <\/li><li>The bar after an outside bar usually has a lot of overlap with the outside bar. It often is an inside bar, which creates an ioi Breakout Mode pattern.<\/li><li>The selloff is strong enough for traders to expect it to go at least a little lower. <\/li><li>The March 2020 high as the breakout point for the summer rally. It is at the 1.15 Big Round Number and a 50% retracement. There should be buyers there.<\/li><li>Since most trading range breakouts fail, this selloff will probably be simply a test of that March 2020 high.<\/li><li>Traders should expect at least a 2- to 3-month bounce from around the March 2020 high.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"4-the-eurusd-weekly-chart\">The EURUSD <em>weekly<\/em> chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Weekly-chart-2-Oct-2021-Bear-Bar-Closing-Below-Nov-2020-Low.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Weekly-chart-2-Oct-2021-Bear-Bar-Closing-Below-Nov-2020-Low-680x383.png\" alt=\"EURUSD Weekly chart Bear Bar Closing below November 2020 Low\" class=\"wp-image-122768\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Weekly-chart-2-Oct-2021-Bear-Bar-Closing-Below-Nov-2020-Low-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Weekly-chart-2-Oct-2021-Bear-Bar-Closing-Below-Nov-2020-Low-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Weekly-chart-2-Oct-2021-Bear-Bar-Closing-Below-Nov-2020-Low-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Weekly-chart-2-Oct-2021-Bear-Bar-Closing-Below-Nov-2020-Low-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Weekly-chart-2-Oct-2021-Bear-Bar-Closing-Below-Nov-2020-Low.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>This week\u2019s candlestick on the weekly EURUSD Forex chart was a bear bar closing near the low.<\/li><li>The bears want a resumption of the May to August bear trend and a 700-pip measured move down, based on the height of the yearlong trading range. They want next week to be a follow-through bear bar preferably closing near the low.&nbsp;<\/li><li>That would increase the odds of a successful breakout.<\/li><li>Since most breakouts fail, it is more likely that this selloff will end around the March 2020 high than continue down to test the March 2020 low.<\/li><li>The bulls are hoping that this week\u2019s sharp sell-off was simply a sell vacuum test of the November 2020\u2019s low, and the current leg down since May is a bear leg in a trading range.<\/li><li>If next week closes as a bull bar, the odds of a failed breakout increases.<\/li><li>A reversal up from here would be a failed breakout below a trading range. There would also be a wedge bull flag with the March and August lows.<\/li><li>However, if the bears manage to get consecutive big bear bars closing near the lows, the odds of a successful breakout and a measured move lower would increase. Traders would then conclude that the yearlong trading range has ended and that the EURUSD has evolved into a bear trend.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"5-the-eurusd-daily-chart\">The EURUSD <em>daily<\/em> chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Daily-chart-2-Oct-2021-Trend-Channel-Line-Overshoot-2-Bar-Reversal.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Daily-chart-2-Oct-2021-Trend-Channel-Line-Overshoot-2-Bar-Reversal-680x383.png\" alt=\"EURUSD Daily Chart Trend Channel Overshoot &amp; 2-bar Reversal\" class=\"wp-image-122769\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Daily-chart-2-Oct-2021-Trend-Channel-Line-Overshoot-2-Bar-Reversal-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Daily-chart-2-Oct-2021-Trend-Channel-Line-Overshoot-2-Bar-Reversal-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Daily-chart-2-Oct-2021-Trend-Channel-Line-Overshoot-2-Bar-Reversal-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Daily-chart-2-Oct-2021-Trend-Channel-Line-Overshoot-2-Bar-Reversal-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/EURUSD-Daily-chart-2-Oct-2021-Trend-Channel-Line-Overshoot-2-Bar-Reversal.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The EURUSD Forex daily candlestick chart formed a big bear bar closing on its low on Wednesday. That was a strong breakout below the March\/August double bottom.<\/li><li>Thursday was the follow-through bar. Since it had a bear body, it makes at least a small 2<sup>nd<\/sup> leg sideways to down likely.<\/li><li>The bears want a 700-pip measured move down based on the height of the yearlong trading range.<\/li><li>The spike down this week overshot the bear trend channel line drawn across September 8 and September 22 lows. <\/li><li>While Friday was a bull day, the body was small and the tail on top was prominent. That is not enough to make traders think that it will be the start of a bull trend. More likely a reversal up will be minor, even if it lasts a couple weeks. <\/li><li>If the bulls get a bounce, the 1<sup>st<\/sup> targets are the EMA and the top of the most recent sell climax, which is Wednesday&#8217;s high.<\/li><li>However, if the bears get consecutive big bear bars closing on their lows next week, the odds of a successful breakout increases. Traders will conclude that the yearlong trading range has ended and that the 6-month bear trend is intact.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"6-sampp500-emini-futures\">S&amp;P500 Emini futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"7-the-monthly-emini-chart\">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\/10\/Emini-Monthly-chart-2-Oct-2021-1st-Bear-Bar-after-7-consecutive-Bull-Bars.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-Monthly-chart-2-Oct-2021-1st-Bear-Bar-after-7-consecutive-Bull-Bars-680x383.png\" alt=\"SP500 Emini streak on monthly chart ended. 1st Bear Bar after 7 Consecutive Bull Bars\" class=\"wp-image-122766\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-Monthly-chart-2-Oct-2021-1st-Bear-Bar-after-7-consecutive-Bull-Bars-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-Monthly-chart-2-Oct-2021-1st-Bear-Bar-after-7-consecutive-Bull-Bars-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-Monthly-chart-2-Oct-2021-1st-Bear-Bar-after-7-consecutive-Bull-Bars-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-Monthly-chart-2-Oct-2021-1st-Bear-Bar-after-7-consecutive-Bull-Bars-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-Monthly-chart-2-Oct-2021-1st-Bear-Bar-after-7-consecutive-Bull-Bars.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>September\u2019s candlestick on the monthly Emini chart was a bear <a href=\"https:\/\/www.investopedia.com\/terms\/o\/outsidereversal.asp\" target=\"_blank\" rel=\"noreferrer noopener\">outside down bar<\/a> closing near its low and below the September low. This is bearish, but the bull trend is strong. Traders will buy the 1<sup>st<\/sup> 2- to 3-month pullback<\/li><li>September ended the 7-month streak of bull bars. <\/li><li>Al has been saying that there has never been a streak of 8 consecutive bull bars in the 25-year history of the Emini, and that either September or October would be a bear bar. <\/li><li>Furthermore, he has been saying that a bear bar should lead to 2 to 3 months of sideways to down trading. You can see that this is what happened with most other bear bars in prior buy climaxes.<\/li><li>The bulls will try to create a credible High 1 buy signal bar in October. But even if they do, it will probably lead to a lower high and then a 2<sup>nd<\/sup> leg sideways to down.<\/li><li>If the bulls are able to get a new high before the end of the year, it will probably be brief. An extreme buy climax like this typically results in at least 2 to 3 months of sideways to down trading.<\/li><li>The bar after an outside bar often has a lot of overlap with the outside bar.&nbsp;<\/li><li>It is still early in the month and the monthly candlestick will look different by the close of the month.<\/li><li>At the moment, traders should expect sideways to down trading for a couple more months.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"8-the-weekly-sampp500-emini-futures-chart\">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\/10\/Emini-weekly-chart-2-Oct-2021-High-1-Micro-Double-Bottom.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-weekly-chart-2-Oct-2021-High-1-Micro-Double-Bottom-680x383.png\" alt=\"SP500 Weekly Chart High 1 and Micro Double Bottom\" class=\"wp-image-122770\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-weekly-chart-2-Oct-2021-High-1-Micro-Double-Bottom-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-weekly-chart-2-Oct-2021-High-1-Micro-Double-Bottom-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-weekly-chart-2-Oct-2021-High-1-Micro-Double-Bottom-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-weekly-chart-2-Oct-2021-High-1-Micro-Double-Bottom-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-weekly-chart-2-Oct-2021-High-1-Micro-Double-Bottom.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>The weekly Emini candlestick was a bear bar this week.<\/li><li>It broke below last week&#8217;s low, but closed just below the middle of the bar. The bears were not as strong as they could have been.<\/li><li>The Emini has been in a Small Pullback Bull Trend for more than 60 bars, which is unusual, and therefore unsustainable and climactic.<\/li><li>Traders will conclude that the Small Pullback Bull Trend has ended once there is a pullback that is at least 50% bigger than the biggest pullback in the bull trend.<\/li><li>The biggest pullback so far was the 10% selloff in September 2020. A bigger pullback typically means 15 to 20%, and that is why Al has been saying that traders should expect at least 15% correction to begin before the Emini goes much above the September high.<\/li><li>There is a 50% chance that September 2 will remain the high for the rest of 2021.<\/li><li>Since there is a 50% chance that the September 2 high will be the high of the year, there is a 50% chance that a 15% correction is underway.&nbsp;<\/li><li>A 50% chance of September 2 being the high of the year means a 50% chance there will be a new high.<\/li><li>The bulls know that most reversal attempts in a strong bull trend are minor. That means they become either bull flags or the start of a trading range. <\/li><li>Since this rally is so extreme, a trading range for 10 or more bars is likely to begin soon. It probably has begun. <\/li><li>That is true even if there is a new all-time high in the next couple months. Traders should not expect a resumption of the bull trend until at least December.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"9-the-daily-sampp500-emini-futures-chart\">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\/10\/Emini-daily-candlestick-chart-has-lower-low-double-bottom-at-100-day-MA-and-head-and-shoulders-top-1.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-daily-candlestick-chart-has-lower-low-double-bottom-at-100-day-MA-and-head-and-shoulders-top-1-680x383.png\" alt=\"Emini daily candlestick chart has lower low double bottom at 100 day MA and head and shoulders top\" class=\"wp-image-122794\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-daily-candlestick-chart-has-lower-low-double-bottom-at-100-day-MA-and-head-and-shoulders-top-1-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-daily-candlestick-chart-has-lower-low-double-bottom-at-100-day-MA-and-head-and-shoulders-top-1-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-daily-candlestick-chart-has-lower-low-double-bottom-at-100-day-MA-and-head-and-shoulders-top-1-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-daily-candlestick-chart-has-lower-low-double-bottom-at-100-day-MA-and-head-and-shoulders-top-1-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-daily-candlestick-chart-has-lower-low-double-bottom-at-100-day-MA-and-head-and-shoulders-top-1.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Friday had a big bull body after breaking below the September 20<sup>th<\/sup> low. <\/li><li>The bulls hope this 2<sup>nd<\/sup> reversal up from the 100-day MA will result in a resumption of the bull trend. They see this as a lower low double bottom with the September 20 low.<\/li><li>However, Friday had a big tail on top and the September 23 high is still a credible lower high major trend reversal. It is also the right shoulder of a head and shoulders top.<\/li><li>Traders are deciding if the 100-day MA support is more important than the 50-day MA resistance.&nbsp;<\/li><li>It is common for a market to enter a trading range once it has a big reversal down from a buy climax. Big up and big down create big confusion. That typically results in a trading range. <\/li><li>The daily chart has been sideways since July. Traders are deciding if the September selloff is just a bear leg in the trading range or the start of a bear trend.<\/li><li>A bear trend has a series of lower highs and lows. The bears need to do more before traders will believe that the Emini is in a bear trend.<\/li><li>When things are unclear, the probability is usually about 50% for the bulls and bears. That is the case now with the daily chart. <\/li><li>Traders need to see a strong break below the Friday&#8217;s low or above the September 23 lower high before believing that the trading range is converting into a trend.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"10-trading-room\">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<h3 class=\"wp-block-heading\" id=\"11-weekly-reports-archive\">Weekly Reports Archive<\/h3>\n\n\n\n<p>You can access all weekly reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" 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>Weekend report co-author Andrew A. Market Overview: Weekend Market Analysis The&nbsp;SP500 Emini&nbsp;futures contract ended its 7 consecutive bull bars streak on monthly chart with an outside down bear bar in September. This will probably result in at least a couple months of sideways to down trading, but a pullback and then a new high is [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":122770,"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":[281,60],"class_list":{"0":"post-122496","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analysis","8":"tag-eurusd-forex","9":"tag-sp-emini","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2021\/10\/Emini-weekly-chart-2-Oct-2021-High-1-Micro-Double-Bottom.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\/122496","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=122496"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/122496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/122770"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=122496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=122496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=122496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}