S&P500 Emini futures<\/h2>\n\n\n\nThe Weekly<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/Emini-Weekly-Big-outside-Bear-Bar-Start-of-Bear-Leg-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- This week\u2019s Emini candlestick<\/a> was a big outside bear bar closing near its low.<\/li>\n\n\n\n
- Last week, we said that odds favor the Emini to trade at least a little higher and traders will see if the bulls can create a strong follow-through bull bar or will the market trade slightly higher but stall and close as a bear bar or a doji with a long tail above.<\/li>\n\n\n\n
- This week traded above last week\u2019s high but reversed to close far below last week\u2019s low.<\/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 got a reversal down from a higher high major trend reversal. <\/li>\n\n\n\n
- This week, they got a reversal down from a lower high major trend reversal with February 2 high.<\/li>\n\n\n\n
- While some traders may view December high as a major lower high, the bears would need to see a break above the August high to be sure of the end of the bear trend.<\/li>\n\n\n\n
- The bears hope that this week\u2019s strong spike down is the start of the bear leg to retest the October trading range low.<\/li>\n\n\n\n
- They will need to create follow-through selling next week to increase the odds of lower prices.<\/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 or a double bottom bull flag with the December low.<\/li>\n\n\n\n
- They want 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 and August highs to signal the end of the selloff. <\/li>\n\n\n\n
- Since this week was a big bear bar closing near the low, odds slightly favor the Emini to trade at least a little lower.<\/li>\n\n\n\n
- If the bears get strong follow-through selling next week, the odds of a retest of the October increase.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/03\/Emini-Daily-2nd-Leg-Down-from-LH-MTR-Wedge-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- The Emini traded slightly higher on Monday but reversed lower and traded down for the rest of the week.<\/li>\n\n\n\n
- Previously, we said if there is a pullback higher,<\/a> odds slightly favor at least a small second leg sideways to down to retest February low.<\/li>\n\n\n\n
- The bears got the second leg sideways to down from a lower high major trend reversal (Mar 6).<\/li>\n\n\n\n
- They see the move up from October simply as forming a double top bear flag (Aug 16 and Feb 2) within a broad bear channel.<\/li>\n\n\n\n
- They determine that the August high is the last major lower high, therefore, believe that the Emini is still in a bear trend.<\/li>\n\n\n\n
- They need to continue creating consecutive bear bars closing near their lows to convince traders that a deeper pullback is underway.<\/li>\n\n\n\n
- The next target for the bears is the December low, which will likely be tested soon.<\/li>\n\n\n\n
- Since Friday was a big bear bar closing near its low, it is a strong sell signal bar for Monday.<\/li>\n\n\n\n
- The bulls got a breakout above December high but did not get sustained follow-through buying.<\/li>\n\n\n\n
- By trading above the December high, the bulls hope that the bear trend has ended, and the market has either transitioned into a trading range or a bull trend.<\/li>\n\n\n\n
- The bulls want the current pullback to stall at a higher low or a double bottom bull flag with the December low.<\/li>\n\n\n\n
- They want a retest of February high and another big leg up, completing the wedge pattern with the first two legs being December 1 and February 2.<\/li>\n\n\n\n
- They need to break far above the December and August highs, to convince traders that the selloff from January 2022 has ended.<\/li>\n\n\n\n
- 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
- The strong selloff this week increases the odds that the bear leg to retest the trading range low may have begun, especially if the bears get follow-through selling next week.<\/li>\n\n\n\n
- For now, traders will see if the bears can create follow-through selling breaking far below the December low. <\/li>\n\n\n\n
- Odds slightly favor sideways to down for next week.<\/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-Weekly-Big-outside-Bear-Bar-Start-of-Bear-Leg.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- \n
- This week\u2019s Emini candlestick<\/a> was a big outside bear bar closing near its low.<\/li>\n\n\n\n
- Last week, we said that odds favor the Emini to trade at least a little higher and traders will see if the bulls can create a strong follow-through bull bar or will the market trade slightly higher but stall and close as a bear bar or a doji with a long tail above.<\/li>\n\n\n\n
- This week traded above last week\u2019s high but reversed to close far below last week\u2019s low.<\/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 got a reversal down from a higher high major trend reversal. <\/li>\n\n\n\n
- This week, they got a reversal down from a lower high major trend reversal with February 2 high.<\/li>\n\n\n\n
- While some traders may view December high as a major lower high, the bears would need to see a break above the August high to be sure of the end of the bear trend.<\/li>\n\n\n\n
- The bears hope that this week\u2019s strong spike down is the start of the bear leg to retest the October trading range low.<\/li>\n\n\n\n
- They will need to create follow-through selling next week to increase the odds of lower prices.<\/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 or a double bottom bull flag with the December low.<\/li>\n\n\n\n
- They want 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 and August highs to signal the end of the selloff. <\/li>\n\n\n\n
- Since this week was a big bear bar closing near the low, odds slightly favor the Emini to trade at least a little lower.<\/li>\n\n\n\n
- If the bears get strong follow-through selling next week, the odds of a retest of the October increase.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- \n
- The Emini traded slightly higher on Monday but reversed lower and traded down for the rest of the week.<\/li>\n\n\n\n
- Previously, we said if there is a pullback higher,<\/a> odds slightly favor at least a small second leg sideways to down to retest February low.<\/li>\n\n\n\n
- The bears got the second leg sideways to down from a lower high major trend reversal (Mar 6).<\/li>\n\n\n\n
- They see the move up from October simply as forming a double top bear flag (Aug 16 and Feb 2) within a broad bear channel.<\/li>\n\n\n\n
- They determine that the August high is the last major lower high, therefore, believe that the Emini is still in a bear trend.<\/li>\n\n\n\n
- They need to continue creating consecutive bear bars closing near their lows to convince traders that a deeper pullback is underway.<\/li>\n\n\n\n
- The next target for the bears is the December low, which will likely be tested soon.<\/li>\n\n\n\n
- Since Friday was a big bear bar closing near its low, it is a strong sell signal bar for Monday.<\/li>\n\n\n\n
- The bulls got a breakout above December high but did not get sustained follow-through buying.<\/li>\n\n\n\n
- By trading above the December high, the bulls hope that the bear trend has ended, and the market has either transitioned into a trading range or a bull trend.<\/li>\n\n\n\n
- The bulls want the current pullback to stall at a higher low or a double bottom bull flag with the December low.<\/li>\n\n\n\n
- They want a retest of February high and another big leg up, completing the wedge pattern with the first two legs being December 1 and February 2.<\/li>\n\n\n\n
- They need to break far above the December and August highs, to convince traders that the selloff from January 2022 has ended.<\/li>\n\n\n\n
- 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
- The strong selloff this week increases the odds that the bear leg to retest the trading range low may have begun, especially if the bears get follow-through selling next week.<\/li>\n\n\n\n
- For now, traders will see if the bears can create follow-through selling breaking far below the December low. <\/li>\n\n\n\n
- Odds slightly favor sideways to down for next week.<\/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