S&P500 Emini futures<\/h2>\n\n\n\nThe Monthly<\/em> Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/Emini-Monthly-Feb-Bear-Reversal-Bar-Trading-Range-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- The February monthly Emini candlestick<\/a> was a bear reversal bar closing below the 20-month exponential moving average.<\/li>\n\n\n\n
- Last month, we said that the odds favor an upside breakout<\/a> above January and traders will see if the bulls can create a follow-through bull bar. Or if the Emini trades slightly higher, but reverses to close as a bear bar below the 20-month exponential moving average.<\/li>\n\n\n\n
- The bulls see the selloff from January 2022 as a wedge bull flag (February 24, June 17 and October 13). <\/li>\n\n\n\n
- They got a second leg sideways to up in February, but it reversed into a bear bar. <\/li>\n\n\n\n
- They failed to get a follow-through bull bar and the Emini is stalling around the 20-month exponential moving average.<\/li>\n\n\n\n
- The bulls want March to close with a bull body closing near its high. <\/li>\n\n\n\n
- They have a 5-bar bull microchannel. Often, there are buyers below the first pullback below such a strong microchannel.<\/li>\n\n\n\n
- The move down since January 2022 had a lot of overlapping bars. The bears are not yet as strong as they hope to be. <\/li>\n\n\n\n
- They see the move down from January 2022 as a broad bear channel, with the August 2022 high as the last lower high.<\/li>\n\n\n\n
- While the bulls have broken the bear trend line, the bears hope that the recent move up is simply forming another lower high (to Aug 2022) with a flatter trend line.<\/li>\n\n\n\n
- If the Emini trades higher, they want a reversal lower from a double top bear flag with August 2022 high and a lower high major trend reversal.<\/li>\n\n\n\n
- While March has traded slightly below the February low, some bears may feel that the February low may not have been adequately tested.<\/li>\n\n\n\n
- The bears want a retest of the March low after the current pullback (bounce).<\/li>\n\n\n\n
- The candlesticks in the last 9 months are overlapping which means the Emini likely has transitioned into a trading range phase between 4300 and 3500.<\/li>\n\n\n\n
- The last 4 candlesticks had overlapping bodies with alternating bull and bear bodies. The Emini is in a tight trading range.<\/li>\n\n\n\n
- Poor follow-through and reversals are more likely within a trading range.<\/li>\n\n\n\n
- Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction.<\/li>\n\n\n\n
- Until the bulls can break far above the August 2022 high, the broad bear channel may still be in play.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/Emini-Weekly-Higher-Low-Strong-Bull-Bar-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- This week\u2019s Emini candlestick<\/a> was a strong bull bar reversal closing near its high with a long tail below.<\/li>\n\n\n\n
- Last week, we said that odds slightly favor the Emini<\/a> to trade at least a little lower and traders will see if the bears can continue to create strong bear bars, or will the Emini stall at a higher low potentially setting up another third leg up.<\/li>\n\n\n\n
- This week broke below last week’s low but reversed to close as a bull reversal bar.<\/li>\n\n\n\n
- The bears see the move up to February 2 high simply as a two-legged swing up.<\/li>\n\n\n\n
- They want a reversal down from a higher high major trend reversal. <\/li>\n\n\n\n
- If the Emini trades higher, they want a reversal down from a lower high major trend reversal or a double top with February 2 high.<\/li>\n\n\n\n
- While some traders may view December high as a major lower high, the bears want a break above the August high to be sure of the end of the bear trend.<\/li>\n\n\n\n
- The bears want a retest of the October low followed by a strong breakout and a continuation of the bear trend.<\/li>\n\n\n\n
- The bulls see the last 8 months as forming an inverted head and shoulders, with the December low being the right shoulder.<\/li>\n\n\n\n
- However, an inverted head and shoulders pattern often ends up as a bear flag instead of a reversal pattern.<\/li>\n\n\n\n
- The bulls hope that the current pullback will form a higher low, followed by another leg up forming a wedge pattern with the first two legs being December 1 and February 2.<\/li>\n\n\n\n
- By breaking above the December high, they hope the bear trend of successively lower highs and lower lows has ended.<\/li>\n\n\n\n
- They need to break far above the December high and August high to signal the end of the selloff. <\/li>\n\n\n\n
- After the spike and broad channel down from January 2022, the Emini may have transitioned into a trading range phase between 4300 and 3500.<\/li>\n\n\n\n
- Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction.<\/li>\n\n\n\n
- The move up from October 2022 may simply be a bull leg within a trading range.<\/li>\n\n\n\n
- Since this week was a bull bar closing near the high, odds favor the Emini to trade at least a little higher.<\/li>\n\n\n\n
- Traders will see if the bulls can create a strong follow-through bull bar or if next week trades slightly higher but stalls and closes as a bear bar or a doji with a long tail above.<\/li>\n<\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Al Brooks and other presenters talk about the detailed Emini price action real-time each 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
![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/Emini-Monthly-Feb-Bear-Reversal-Bar-Trading-Range.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- \n
- The February monthly Emini candlestick<\/a> was a bear reversal bar closing below the 20-month exponential moving average.<\/li>\n\n\n\n
- Last month, we said that the odds favor an upside breakout<\/a> above January and traders will see if the bulls can create a follow-through bull bar. Or if the Emini trades slightly higher, but reverses to close as a bear bar below the 20-month exponential moving average.<\/li>\n\n\n\n
- The bulls see the selloff from January 2022 as a wedge bull flag (February 24, June 17 and October 13). <\/li>\n\n\n\n
- They got a second leg sideways to up in February, but it reversed into a bear bar. <\/li>\n\n\n\n
- They failed to get a follow-through bull bar and the Emini is stalling around the 20-month exponential moving average.<\/li>\n\n\n\n
- The bulls want March to close with a bull body closing near its high. <\/li>\n\n\n\n
- They have a 5-bar bull microchannel. Often, there are buyers below the first pullback below such a strong microchannel.<\/li>\n\n\n\n
- The move down since January 2022 had a lot of overlapping bars. The bears are not yet as strong as they hope to be. <\/li>\n\n\n\n
- They see the move down from January 2022 as a broad bear channel, with the August 2022 high as the last lower high.<\/li>\n\n\n\n
- While the bulls have broken the bear trend line, the bears hope that the recent move up is simply forming another lower high (to Aug 2022) with a flatter trend line.<\/li>\n\n\n\n
- If the Emini trades higher, they want a reversal lower from a double top bear flag with August 2022 high and a lower high major trend reversal.<\/li>\n\n\n\n
- While March has traded slightly below the February low, some bears may feel that the February low may not have been adequately tested.<\/li>\n\n\n\n
- The bears want a retest of the March low after the current pullback (bounce).<\/li>\n\n\n\n
- The candlesticks in the last 9 months are overlapping which means the Emini likely has transitioned into a trading range phase between 4300 and 3500.<\/li>\n\n\n\n
- The last 4 candlesticks had overlapping bodies with alternating bull and bear bodies. The Emini is in a tight trading range.<\/li>\n\n\n\n
- Poor follow-through and reversals are more likely within a trading range.<\/li>\n\n\n\n
- Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction.<\/li>\n\n\n\n
- Until the bulls can break far above the August 2022 high, the broad bear channel may still be in play.<\/li>\n<\/ul>\n\n\n\n
The Weekly<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- \n
- This week\u2019s Emini candlestick<\/a> was a strong bull bar reversal closing near its high with a long tail below.<\/li>\n\n\n\n
- Last week, we said that odds slightly favor the Emini<\/a> to trade at least a little lower and traders will see if the bears can continue to create strong bear bars, or will the Emini stall at a higher low potentially setting up another third leg up.<\/li>\n\n\n\n
- This week broke below last week’s low but reversed to close as a bull reversal bar.<\/li>\n\n\n\n
- The bears see the move up to February 2 high simply as a two-legged swing up.<\/li>\n\n\n\n
- They want a reversal down from a higher high major trend reversal. <\/li>\n\n\n\n
- If the Emini trades higher, they want a reversal down from a lower high major trend reversal or a double top with February 2 high.<\/li>\n\n\n\n
- While some traders may view December high as a major lower high, the bears want a break above the August high to be sure of the end of the bear trend.<\/li>\n\n\n\n
- The bears want a retest of the October low followed by a strong breakout and a continuation of the bear trend.<\/li>\n\n\n\n
- The bulls see the last 8 months as forming an inverted head and shoulders, with the December low being the right shoulder.<\/li>\n\n\n\n
- However, an inverted head and shoulders pattern often ends up as a bear flag instead of a reversal pattern.<\/li>\n\n\n\n
- The bulls hope that the current pullback will form a higher low, followed by another leg up forming a wedge pattern with the first two legs being December 1 and February 2.<\/li>\n\n\n\n
- By breaking above the December high, they hope the bear trend of successively lower highs and lower lows has ended.<\/li>\n\n\n\n
- They need to break far above the December high and August high to signal the end of the selloff. <\/li>\n\n\n\n
- After the spike and broad channel down from January 2022, the Emini may have transitioned into a trading range phase between 4300 and 3500.<\/li>\n\n\n\n
- Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction.<\/li>\n\n\n\n
- The move up from October 2022 may simply be a bull leg within a trading range.<\/li>\n\n\n\n
- Since this week was a bull bar closing near the high, odds favor the Emini to trade at least a little higher.<\/li>\n\n\n\n
- Traders will see if the bulls can create a strong follow-through bull bar or if next week trades slightly higher but stalls and closes as a bear bar or a doji with a long tail above.<\/li>\n<\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Al Brooks and other presenters talk about the detailed Emini price action real-time each 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
- Last week, we said that odds slightly favor the Emini<\/a> to trade at least a little lower and traders will see if the bears can continue to create strong bear bars, or will the Emini stall at a higher low potentially setting up another third leg up.<\/li>\n\n\n\n
- Last month, we said that the odds favor an upside breakout<\/a> above January and traders will see if the bulls can create a follow-through bull bar. Or if the Emini trades slightly higher, but reverses to close as a bear bar below the 20-month exponential moving average.<\/li>\n\n\n\n