{"id":177555,"date":"2023-05-07T01:30:00","date_gmt":"2023-05-07T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=177555"},"modified":"2023-05-07T01:14:05","modified_gmt":"2023-05-07T08:14:05","slug":"emini-double-bottom","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-double-bottom\/","title":{"rendered":"Emini Double Bottom at 20-Week EMA"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: S&amp;P 500 Emini Futures<\/h2>\n\n\n\n<p>The <strong>S&amp;P 500 Emini<\/strong> futures formed an Emini double bottom at the 20-week exponential moving average. So far, the pullback in the Emini has gone sideways. The bears are not yet strong. The bulls want a strong breakout above February 2 high followed by a measured move up using the height of the 5-month trading range. The bears want a reversal down from a double top with February 2 high and a larger wedge pattern (Dec 13, Feb 2, May 1). <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">S&amp;P500 Emini futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> S&amp;P 500 Emini chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Weekly-Double-Bottom-Bull-Flag-at-20-Week-EMA.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Weekly-Double-Bottom-Bull-Flag-at-20-Week-EMA-680x383.png\" alt=\"Emini Double Bottom Bull Flag at 20-Week EMA on Weekly Chart\" class=\"wp-image-177744\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Weekly-Double-Bottom-Bull-Flag-at-20-Week-EMA-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Weekly-Double-Bottom-Bull-Flag-at-20-Week-EMA-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Weekly-Double-Bottom-Bull-Flag-at-20-Week-EMA-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Weekly-Double-Bottom-Bull-Flag-at-20-Week-EMA-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Weekly-Double-Bottom-Bull-Flag-at-20-Week-EMA.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.investing.com\/indices\/us-spx-500-futures\" target=\"_blank\" rel=\"noreferrer noopener\">This week\u2019s Emini candlestick&nbsp;<\/a>was an outside bear doji with a long tail below.<\/li>\n\n\n\n<li>Last week, we said that the odds slightly favor the Emini to trade at least a little higher.<\/li>\n\n\n\n<li>This week traded above and below last week\u2019s high and low respectively but close in the upper half of the range.<\/li>\n\n\n\n<li>The bulls want another strong leg up completing the wedge pattern with the first two legs being December 13 and February 2. The third leg up is currently underway.<\/li>\n\n\n\n<li>They hope the last 5 weeks are forming a bull flag near the trading range high.<\/li>\n\n\n\n<li>They want a reversal up from a double bottom bull flag (Apr 26 and May 4) and want another strong leg up breaking far above February 2 high.<\/li>\n\n\n\n<li>The next targets for the bulls are the February 2 high and the August 2022 high. <\/li>\n\n\n\n<li>They want a strong breakout above followed by a measured move up using the height of the 5-month trading range which will take them to the March 2022 high area.<\/li>\n\n\n\n<li>The bears want a reversal down from a double top with February 2 high and a larger wedge pattern (Dec 13, Feb 2, May 1).<\/li>\n\n\n\n<li>If the Emini trades higher, they hope that the 5-week trading range is the final flag of the move up and want a reversal back into the trading range.<\/li>\n\n\n\n<li>The problem with the bear\u2019s case is that they have not been able to create credible selling pressure since the March low.<\/li>\n\n\n\n<li>The last two candlesticks have long tails below and closed above the middle of their respective ranges. The bears are not yet strong.<\/li>\n\n\n\n<li>They will need to create strong bear bars with follow-through selling to convince traders that a deeper pullback could be underway.<\/li>\n\n\n\n<li>At the very least, the bears will need a strong sell signal bar before they would be willing to sell more aggressively.<\/li>\n\n\n\n<li>So far, the pullback in the Emini has gone sideways. The bears are not yet strong.<\/li>\n\n\n\n<li>Since this week was a bear doji closing in the upper half of the week\u2019s range and with a long tail below, it is not a strong sell signal bar. It is a buy signal bar albeit weaker.<\/li>\n\n\n\n<li>The candlestick after an outside bar sometimes is an inside bar forming an ioi (inside-outside-inside) pattern, which is a breakout mode pattern. Or often, it has a lot of overlapping price action.<\/li>\n\n\n\n<li>The Emini has formed a 5-bar trading range around the February 2 high which has the shape of a small expanding triangle.<\/li>\n\n\n\n<li>For now, the odds slightly favor the Emini to still be in the sideways to up phase until the bears can create credible selling pressure (strong bear bars with follow-through selling).<\/li>\n\n\n\n<li>Traders will see if the bulls can create a retest and breakout above the February high with follow-through buying or will the market continue to stall around the February 2 high area.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> S&amp;P 500 Emini chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Daily-5-Week-TR-Expanding-Triangle.png\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Daily-5-Week-TR-Expanding-Triangle-680x383.png\" alt=\"Emini Daily: 5-Week TR &amp; Expanding Triangle\" class=\"wp-image-177748\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Daily-5-Week-TR-Expanding-Triangle-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Daily-5-Week-TR-Expanding-Triangle-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Daily-5-Week-TR-Expanding-Triangle-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Daily-5-Week-TR-Expanding-Triangle-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Daily-5-Week-TR-Expanding-Triangle.png 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Emini traded higher on Monday but sold off to below last week\u2019s low by Thursday. Friday gapped up and close above the 20-day exponential moving average as a bull bar with a prominent tail above.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/emini-consecutive-bull-bars-close\/\" target=\"_blank\" rel=\"noreferrer noopener\">Previously, we said that the large wedge<\/a> (Dec 13, Feb 2, and Apr 18) and smaller wedge (Mar 22, Apr 4, and Apr 18) increase the odds that we may see a pullback which likely has begun 2 weeks ago.<\/li>\n\n\n\n<li>The market formed 2 prominent legs down in the pullback with deep pullbacks and is trading sideways around the 20-day exponential moving average.<\/li>\n\n\n\n<li>The bears have not yet been able to create sustained follow-through selling.<\/li>\n\n\n\n<li>They see the move up from October 2022 simply as forming a large wedge (Dec 13, Feb 2, and May 1) within a broad bear channel.<\/li>\n\n\n\n<li>They determined 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<li>They want a retest of the October low from a lower high major trend reversal or a double top (Feb 2).&nbsp;<\/li>\n\n\n\n<li>They also see a smaller wedge forming (Apr 4, Apr 18, and May 1).<\/li>\n\n\n\n<li>The bears hope Friday was simply a deep pullback and wants another leg down breaking far below the April\/May lows.<\/li>\n\n\n\n<li>If the Emini trades higher, the bears hope that the 5-week trading range is the final flag of the leg up and want a reversal down from a failed breakout above February 2 high.<\/li>\n\n\n\n<li>The bulls want a retest of the February 2 high followed by a breakout and a measured move using the height of the 5-month trading range which will take them near the March 2022 high.<\/li>\n\n\n\n<li>They see the current pullback as forming a double bottom bull flag (Apr 26 and May 4) and a wedge bull flag (Apr 6, Apr 26, and May 4). They want a strong breakout above February 2 high soon.<\/li>\n\n\n\n<li>Since Friday was a big bull bar closing in the upper half above, it is a buy signal bar for Monday.<\/li>\n\n\n\n<li>Odds slightly favor the Emini to trade at least a little higher early next week.<\/li>\n\n\n\n<li>The Emini is forming a smaller trading range of 4190 and 4050 around the February 2 high.<\/li>\n\n\n\n<li>Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction with follow-through buying\/selling.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Trading room<\/h2>\n\n\n\n<p>Al Brooks and other presenters talk about the detailed Emini price action real-time each day in the BrooksPriceAction.com <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/online-day-trading-room\/\" target=\"_blank\">trading room<\/a>. We offer a <a rel=\"noreferrer noopener\" href=\"http:\/\/www.brookspriceaction.com\/portal.php?page=11\" target=\"_blank\">2 day free trial<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: S&amp;P 500 Emini Futures The S&amp;P 500 Emini futures formed an Emini double bottom at the 20-week exponential moving average. So far, the pullback in the Emini has gone sideways. The bears are not yet strong. The bulls want a strong breakout above February 2 high followed by a measured move up using [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":177744,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[136,1843],"tags":[336,60],"class_list":{"0":"post-177555","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analysis","8":"category-sp500-emini","9":"tag-double-bottom-bull-flag","10":"tag-sp-emini","11":"entry","12":"override","13":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/Emini-Weekly-Double-Bottom-Bull-Flag-at-20-Week-EMA.png","author_info":{"display_name":"Andrew","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/andrewa\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/177555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/2836"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=177555"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/177555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/177744"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=177555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=177555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=177555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}