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\/07\/Emini-Weekly-2-Leg-Sideways-to-up-PB-Bull-inside-Bar-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- This week\u2019s Emini candlestick<\/a> was an Emini bull inside bar closing near the high. <\/li>
- We said last week was a weak sell signal bar and this week could trade higher without trading below last week\u2019s low as it would be the second leg sideways to up of the pullback.<\/li>
- This week, the bears failed to create a consecutive bear bar.<\/li>
- Bulls see a trend channel line overshoot, and a wedge bottom (Feb 24, May 20 and June 17). There is now a 4-bar bull micro channel on the chart.<\/li>
- The bulls will need to create a consecutive bull bar next week to increase the odds of a test of the 20-week exponential moving average or the June 2 high. <\/li>
- The bears want the Emini to stall at the bear trend line or the 20-week exponential moving average, or around or below the June 2 high and reverse lower from a double top bear flag.<\/li>
- They want a breakout below the June low and a continuation of the measured move down to 3600 or lower around 3450, based on the height of the 12-month trading range starting from May 2021.<\/li>
- Since this week\u2019s candlestick was an inside bar, the Emini is in breakout mode. <\/li>
- Because this week was a bull bar closing near the high, it is a buy signal bar for next week. Next week may even gap up at the open. Small gaps usually close early.<\/li>
- If the bulls get a consecutive bull bar, something they have failed to do since April, the odds of a re-test of June 2 high increases.<\/li>
- Can next week trade below this week\u2019s low? While that is possible, the prominent tail below the last 2 candlesticks increases the odds that there will be buyers below.<\/li>
- We have said that the trend channel line overshoot increases the odds of a 2-legged sideways to up pullback. The Emini is currently in the pullback phase.<\/li>
- For now, due to the wedge bottom (Feb 24, May 20 and June 17) and trend channel line overshoot, odds slightly favor sideways to up and a test near the June 2 high. <\/li><\/ul>\n\n\n\n
The Daily<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"SP50](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/07\/Emini-Daily-2-Leg-Sideways-to-up-PB-Double-Top-Bear-Flag-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- The Emini traded higher for the whole week following the US Independence Day holiday.<\/li>
- Previously, we said should the Emini trade higher, but stall around the 20-day exponential moving average, the bear trend line or below the June 2 high, odds are the bears will return to sell the double top bear flag for a retest of the low.<\/li>
- The Emini is currently stalling around the 20-day exponential moving average and just below the bear trend line.<\/li>
- The bears want a reversal lower from a double top bear flag (June 28 and July 8) just below the bear trend line. <\/li>
- Bears want a break below the June low and a continuation of the measured move down to around 3600 based on the height of the 9-month trading range or lower, around 3450 based on the height of the 12-month trading range starting with May 2021.<\/li>
- The bulls want a failed breakout below the May low. <\/li>
- They want a reversal higher from a trend channel line overshoot and a wedge bottom (Feb 24, May 20 and June 17).<\/li>
- They see this week as a second leg sideways to up from a higher low major trend reversal.<\/li>
- The bear trend line remains a resistance above. The bulls will need to break above the bear trend line with consecutive bull bars closing near their highs.<\/li>
- For now, because of the trend channel line overshoot and the wedge bottom (Feb 24, May 20 and June 17), odds slightly favor at least slightly higher prices.<\/li>
- Traders will monitor whether the bulls can create consecutive bull bars breaking far above the bear trend and test the June 2 high for next week.<\/li>
- If the Emini trades slightly higher but continues to stall around the 20-day exponential moving average or the bear trend line, odds are the bears will return to sell the lower high for a retest of June low.<\/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\/07\/Emini-Weekly-2-Leg-Sideways-to-up-PB-Bull-inside-Bar.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- This week\u2019s Emini candlestick<\/a> was an Emini bull inside bar closing near the high. <\/li>
- We said last week was a weak sell signal bar and this week could trade higher without trading below last week\u2019s low as it would be the second leg sideways to up of the pullback.<\/li>
- This week, the bears failed to create a consecutive bear bar.<\/li>
- Bulls see a trend channel line overshoot, and a wedge bottom (Feb 24, May 20 and June 17). There is now a 4-bar bull micro channel on the chart.<\/li>
- The bulls will need to create a consecutive bull bar next week to increase the odds of a test of the 20-week exponential moving average or the June 2 high. <\/li>
- The bears want the Emini to stall at the bear trend line or the 20-week exponential moving average, or around or below the June 2 high and reverse lower from a double top bear flag.<\/li>
- They want a breakout below the June low and a continuation of the measured move down to 3600 or lower around 3450, based on the height of the 12-month trading range starting from May 2021.<\/li>
- Since this week\u2019s candlestick was an inside bar, the Emini is in breakout mode. <\/li>
- Because this week was a bull bar closing near the high, it is a buy signal bar for next week. Next week may even gap up at the open. Small gaps usually close early.<\/li>
- If the bulls get a consecutive bull bar, something they have failed to do since April, the odds of a re-test of June 2 high increases.<\/li>
- Can next week trade below this week\u2019s low? While that is possible, the prominent tail below the last 2 candlesticks increases the odds that there will be buyers below.<\/li>
- We have said that the trend channel line overshoot increases the odds of a 2-legged sideways to up pullback. The Emini is currently in the pullback phase.<\/li>
- For now, due to the wedge bottom (Feb 24, May 20 and June 17) and trend channel line overshoot, odds slightly favor sideways to up and a test near the June 2 high. <\/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 traded higher for the whole week following the US Independence Day holiday.<\/li>
- Previously, we said should the Emini trade higher, but stall around the 20-day exponential moving average, the bear trend line or below the June 2 high, odds are the bears will return to sell the double top bear flag for a retest of the low.<\/li>
- The Emini is currently stalling around the 20-day exponential moving average and just below the bear trend line.<\/li>
- The bears want a reversal lower from a double top bear flag (June 28 and July 8) just below the bear trend line. <\/li>
- Bears want a break below the June low and a continuation of the measured move down to around 3600 based on the height of the 9-month trading range or lower, around 3450 based on the height of the 12-month trading range starting with May 2021.<\/li>
- The bulls want a failed breakout below the May low. <\/li>
- They want a reversal higher from a trend channel line overshoot and a wedge bottom (Feb 24, May 20 and June 17).<\/li>
- They see this week as a second leg sideways to up from a higher low major trend reversal.<\/li>
- The bear trend line remains a resistance above. The bulls will need to break above the bear trend line with consecutive bull bars closing near their highs.<\/li>
- For now, because of the trend channel line overshoot and the wedge bottom (Feb 24, May 20 and June 17), odds slightly favor at least slightly higher prices.<\/li>
- Traders will monitor whether the bulls can create consecutive bull bars breaking far above the bear trend and test the June 2 high for next week.<\/li>
- If the Emini trades slightly higher but continues to stall around the 20-day exponential moving average or the bear trend line, odds are the bears will return to sell the lower high for a retest of June low.<\/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