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-No-FT-DB-Bull-Flag-Bear-Leg-in-TR-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- This week\u2019s Emini candlestick<\/a> was a bull bar with a prominent tail above, closing above the middle of the range.<\/li>\n\n\n\n
- Last week, we said that odds slightly favor the Emini to trade at least a little lower and if the bears get strong follow-through selling, the odds of a retest of the October increase.<\/li>\n\n\n\n
- This opened lower but traded sideways to up for the week. The bears did not get follow-through selling.<\/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
- They then got a second leg sideways to down from a lower high major trend reversal (Mar 6).<\/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 was simply a pullback and want another leg down forming the wedge pattern with the first two legs being March 2 and March 13.<\/li>\n\n\n\n
- Since this week was a bull bar with a prominent tail above, it is not a strong sell signal bar for next week.<\/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 and reverse up from a double bottom bull flag with the December low.<\/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
- Next week, the bulls will need to create a follow-through bull bar to increase the odds of a retest of the February 2 high.<\/li>\n\n\n\n
- The Emini is in a smaller 21-week trading range around 3750 and 4200.<\/li>\n\n\n\n
- Traders will BLSH (Buy Low, Sell High) until there is a strong breakout from either direction.<\/li>\n\n\n\n
- For now, traders will see if the bulls can create a follow-through bull bar or if next week forms a surprise breakout below the December low.<\/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-Wedge-Bull-Flag-Trading-Range-Lower-High-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- The Emini gapped lower on Monday but the bears did not get follow-through selling. The market traded sideways to up for the rest of the week.<\/li>\n\n\n\n
- Last week, we said that odds slightly favor sideways to down and traders will see if the bears can create follow-through selling breaking far below the December low. <\/li>\n\n\n\n
- The bears recently 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 2022 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 want a strong break below the December low and a retest of the October low.<\/li>\n\n\n\n
- The bears hope that this week was simply a pullback and want another leg down completing the wedge pattern with the first two legs being February 24 and March 13.<\/li>\n\n\n\n
- They need to continue creating consecutive bear bars closing near their lows to convince traders that a retest of the October low is underway.<\/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 and reverse up from 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
- If the Emini trades lower, they want a reversal up from a higher low major trend reversal.<\/li>\n\n\n\n
- Since Friday was an inside bear bar, the Emini is in breakout mode.<\/li>\n\n\n\n
- The first breakout from an inside bar can fail 50% of the time.<\/li>\n\n\n\n
- The Emini is in a smaller 21-week trading range around 3750 and 4200 within a larger 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
- The move up from October 2022 may simply be a bull leg within the 4300 and 3500 trading range.<\/li>\n\n\n\n
- For now, traders will see if the bears can create another leg down, breaking below the December low or will next week trades slightly lower but reverse from a double bottom with March 13 low.<\/li>\n\n\n\n
- If the bulls get consecutive bull bars closing near their highs breaking far above the 20-day exponential moving average, the odds of a retest of February high increase.<\/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-No-FT-DB-Bull-Flag-Bear-Leg-in-TR.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- \n
- This week\u2019s Emini candlestick<\/a> was a bull bar with a prominent tail above, closing above the middle of the range.<\/li>\n\n\n\n
- Last week, we said that odds slightly favor the Emini to trade at least a little lower and if the bears get strong follow-through selling, the odds of a retest of the October increase.<\/li>\n\n\n\n
- This opened lower but traded sideways to up for the week. The bears did not get follow-through selling.<\/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
- They then got a second leg sideways to down from a lower high major trend reversal (Mar 6).<\/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 was simply a pullback and want another leg down forming the wedge pattern with the first two legs being March 2 and March 13.<\/li>\n\n\n\n
- Since this week was a bull bar with a prominent tail above, it is not a strong sell signal bar for next week.<\/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 and reverse up from a double bottom bull flag with the December low.<\/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
- Next week, the bulls will need to create a follow-through bull bar to increase the odds of a retest of the February 2 high.<\/li>\n\n\n\n
- The Emini is in a smaller 21-week trading range around 3750 and 4200.<\/li>\n\n\n\n
- Traders will BLSH (Buy Low, Sell High) until there is a strong breakout from either direction.<\/li>\n\n\n\n
- For now, traders will see if the bulls can create a follow-through bull bar or if next week forms a surprise breakout below the December low.<\/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 gapped lower on Monday but the bears did not get follow-through selling. The market traded sideways to up for the rest of the week.<\/li>\n\n\n\n
- Last week, we said that odds slightly favor sideways to down and traders will see if the bears can create follow-through selling breaking far below the December low. <\/li>\n\n\n\n
- The bears recently 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 2022 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 want a strong break below the December low and a retest of the October low.<\/li>\n\n\n\n
- The bears hope that this week was simply a pullback and want another leg down completing the wedge pattern with the first two legs being February 24 and March 13.<\/li>\n\n\n\n
- They need to continue creating consecutive bear bars closing near their lows to convince traders that a retest of the October low is underway.<\/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 and reverse up from 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
- If the Emini trades lower, they want a reversal up from a higher low major trend reversal.<\/li>\n\n\n\n
- Since Friday was an inside bear bar, the Emini is in breakout mode.<\/li>\n\n\n\n
- The first breakout from an inside bar can fail 50% of the time.<\/li>\n\n\n\n
- The Emini is in a smaller 21-week trading range around 3750 and 4200 within a larger 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
- The move up from October 2022 may simply be a bull leg within the 4300 and 3500 trading range.<\/li>\n\n\n\n
- For now, traders will see if the bears can create another leg down, breaking below the December low or will next week trades slightly lower but reverse from a double bottom with March 13 low.<\/li>\n\n\n\n
- If the bulls get consecutive bull bars closing near their highs breaking far above the 20-day exponential moving average, the odds of a retest of February high increase.<\/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