S&P500 Emini futures<\/h2>\n\n\n\nThe Weekly<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"SP500](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/06\/Emini-Weekly-Big-Bear-Bar-Closing-near-Low-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- This week\u2019s Emini candlestick<\/a>\u00a0was a big bear bar closing near the low. It was a strong bear bar.<\/li>
- Last week, we said the bears will try to trigger the low 1 sell signal bar by trading below the week\u2019s low. Traders will have been monitoring whether this week closes as a bear bar near the low or reverses higher and close near the high with a long tail below.\u00a0<\/li>
- This week closed as a big bear bar near the low. The bears got follow-through selling following last week\u2019s bear doji.<\/li>
- We have said that the bears want the Emini to stall at a lower high around Feb\/March lows or around the 20-week exponential moving average or the bear trend line.<\/li>
- So far it stalled around the Feb\/March lows and reversed lower.<\/li>
- The sell-off since March was in a tight bear channel down. Odds are the pullback would be minor and traders expect at least a small second leg sideways to down move after a pullback because V-bottoms are not common. This week was the second leg sideways to down.<\/li>
- The bears want a retest of the May low, and a breakout followed by a continuation of the measured move down to 3600.<\/li>
- The bulls want a failed breakout below the 9-month trading range.\u00a0<\/li>
- They see a wedge bull flag (Jan 24, Feb 24, and May 20) with an embedded parabolic wedge (April 26, May 2, and May 20).<\/li>
- They see this leg down as a retest of the low and want a reversal higher from a higher low major trend reversal and a double bottom with May 20 low.<\/li>
- Since this week was a big bear bar closing near the low, it is a weak buy signal bar for next week. It is a good sell signal bar.\u00a0<\/li>
- It increases the odds of a gap down on Monday. However, small gaps often close early.<\/li>
- The Emini has been in a trading range for the last 5 weeks. Traders may BL\/SH (Buy Low, Sell High).\u00a0<\/li>
- As strong as the sell-off was this week, it could simply be a sell vacuum test of the 4-week trading range low.<\/li>
- If there is a breakout, odds slightly favor a downside breakout.<\/li>
- For now, odds slightly favor at least slightly lower prices next week.<\/li>
- Bears want another bear bar which will increase the odds of another breakout attempt below the May low, while bulls want next week to close as a bull reversal bar even though next week may trade lower first.<\/li><\/ul>\n\n\n\n
The Daily<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"SP500](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/06\/Emini-Daily-Pullback-Stall-around-February-Low-\u2013-Re-test-low-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- The Emini remained in the tight trading range earlier in the week and broke out below on Thursday followed by a gap down on Friday. Friday closed as a bear bar near the low.<\/li>
- We have said that the channel down from March 29 has been tight. Odds are, there should be at least a small second leg sideways to down after the pullback is over.\u00a0<\/li>
- If the bounce is more sideways and stalls around the 20-day exponential moving average or May 17 high or Feb\/March low, bears will likely return to sell the double top bear flag.<\/li>
- This week was the second leg sideways to down as sellers sold the micro double top bear flag (Jun 2 And Jun 7).<\/li>
- The bulls hope that this sell-off is simply a sell vacuum test of the low.\u00a0<\/li>
- The bulls see a wedge bull flag (Jan 24, Feb 24, and May 20) with an embedded parabolic wedge (April 26, May 2, and May 20). They want a reversal higher from a higher low major trend reversal.<\/li>
- Since Friday was a bear bar closing near the low, it is a weak buy signal bar for Monday.\u00a0<\/li>
- It may even gap down on Monday. Remember that small gaps usually close early.<\/li>
- The bears want a retest of the low followed by a breakout and a continuation of the measured move down to around 3600 based on the height of the 9-month trading range.<\/li>
- We have said there should be at least a small second leg sideways to down after the pullback is over. This week is the start of the second leg sideways to down.<\/li>
- The bears will need to create consecutive bear bars closing near the low to increase the odds of a breakout below May low.<\/li>
- If the Emini stalls around the May low and the bulls get a strong bull reversal bar or a micro double bottom, we may see bulls return for a double bottom major trend reversal higher.<\/li><\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Traders can see the end of the day bar-by-bar price action report by signing up<\/a> for free at BrooksPriceAction.com. Al talks about the detailed Emini price action real-time throughout the day in the BrooksPriceAction.com trading room<\/a>. We offer a 2 day free trial<\/a>.<\/p>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
![\"SP500](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/06\/Emini-Weekly-Big-Bear-Bar-Closing-near-Low.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- This week\u2019s Emini candlestick<\/a>\u00a0was a big bear bar closing near the low. It was a strong bear bar.<\/li>
- Last week, we said the bears will try to trigger the low 1 sell signal bar by trading below the week\u2019s low. Traders will have been monitoring whether this week closes as a bear bar near the low or reverses higher and close near the high with a long tail below.\u00a0<\/li>
- This week closed as a big bear bar near the low. The bears got follow-through selling following last week\u2019s bear doji.<\/li>
- We have said that the bears want the Emini to stall at a lower high around Feb\/March lows or around the 20-week exponential moving average or the bear trend line.<\/li>
- So far it stalled around the Feb\/March lows and reversed lower.<\/li>
- The sell-off since March was in a tight bear channel down. Odds are the pullback would be minor and traders expect at least a small second leg sideways to down move after a pullback because V-bottoms are not common. This week was the second leg sideways to down.<\/li>
- The bears want a retest of the May low, and a breakout followed by a continuation of the measured move down to 3600.<\/li>
- The bulls want a failed breakout below the 9-month trading range.\u00a0<\/li>
- They see a wedge bull flag (Jan 24, Feb 24, and May 20) with an embedded parabolic wedge (April 26, May 2, and May 20).<\/li>
- They see this leg down as a retest of the low and want a reversal higher from a higher low major trend reversal and a double bottom with May 20 low.<\/li>
- Since this week was a big bear bar closing near the low, it is a weak buy signal bar for next week. It is a good sell signal bar.\u00a0<\/li>
- It increases the odds of a gap down on Monday. However, small gaps often close early.<\/li>
- The Emini has been in a trading range for the last 5 weeks. Traders may BL\/SH (Buy Low, Sell High).\u00a0<\/li>
- As strong as the sell-off was this week, it could simply be a sell vacuum test of the 4-week trading range low.<\/li>
- If there is a breakout, odds slightly favor a downside breakout.<\/li>
- For now, odds slightly favor at least slightly lower prices next week.<\/li>
- Bears want another bear bar which will increase the odds of another breakout attempt below the May low, while bulls want next week to close as a bull reversal bar even though next week may trade lower first.<\/li><\/ul>\n\n\n\n
The Daily<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- The Emini remained in the tight trading range earlier in the week and broke out below on Thursday followed by a gap down on Friday. Friday closed as a bear bar near the low.<\/li>
- We have said that the channel down from March 29 has been tight. Odds are, there should be at least a small second leg sideways to down after the pullback is over.\u00a0<\/li>
- If the bounce is more sideways and stalls around the 20-day exponential moving average or May 17 high or Feb\/March low, bears will likely return to sell the double top bear flag.<\/li>
- This week was the second leg sideways to down as sellers sold the micro double top bear flag (Jun 2 And Jun 7).<\/li>
- The bulls hope that this sell-off is simply a sell vacuum test of the low.\u00a0<\/li>
- The bulls see a wedge bull flag (Jan 24, Feb 24, and May 20) with an embedded parabolic wedge (April 26, May 2, and May 20). They want a reversal higher from a higher low major trend reversal.<\/li>
- Since Friday was a bear bar closing near the low, it is a weak buy signal bar for Monday.\u00a0<\/li>
- It may even gap down on Monday. Remember that small gaps usually close early.<\/li>
- The bears want a retest of the low followed by a breakout and a continuation of the measured move down to around 3600 based on the height of the 9-month trading range.<\/li>
- We have said there should be at least a small second leg sideways to down after the pullback is over. This week is the start of the second leg sideways to down.<\/li>
- The bears will need to create consecutive bear bars closing near the low to increase the odds of a breakout below May low.<\/li>
- If the Emini stalls around the May low and the bulls get a strong bull reversal bar or a micro double bottom, we may see bulls return for a double bottom major trend reversal higher.<\/li><\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Traders can see the end of the day bar-by-bar price action report by signing up<\/a> for free at BrooksPriceAction.com. Al talks about the detailed Emini price action real-time throughout the day in the BrooksPriceAction.com trading room<\/a>. We offer a 2 day free trial<\/a>.<\/p>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n