The Weekly<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Weekly-2nd-Leg-Down-Testing-BO-Point-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- This week\u2019s Emini candlestick <\/a>was a big bear bar closing near its low.<\/li>\n\n\n\n
- Last week, we said that the market may first break out below the inside bar and traders will see if the bears can get follow-through selling or will the market trade slightly lower but reverse to close with a long tail below or a bull body.<\/li>\n\n\n\n
- This week broke below the bear inside bar with strong selling and closed below the 20-week exponential moving average.<\/li>\n\n\n\n
- Previously, the bulls got a strong trend up (since March) in a tight bull channel. <\/li>\n\n\n\n
- The bulls hope to get a larger second leg sideways to up after the current pullback.<\/li>\n\n\n\n
- They want a reversal up from a double bottom bull flag (Aug 18 and Sept 22) and the Emini to reverse back above the 20-week exponential moving average.<\/li>\n\n\n\n
- They want a retest of the July 27 high followed by a strong breakout above.<\/li>\n\n\n\n
- The bears got a two-legged pullback testing near the breakout point (Feb 2).<\/li>\n\n\n\n
- This week broke out below the ii (inside inside) pattern and closed below the 20-week EMA. The bears need to create follow-through selling to increase the odds of a reversal.<\/li>\n\n\n\n
- Since this week\u2019s candlestick was a big bear bar closing near its low, it is a sell signal bar for next week.<\/li>\n\n\n\n
- The market may gap down on Monday. Small gaps usually close early.<\/li>\n\n\n\n
- For now, odds slightly favor the Emini to trade at least a little lower.<\/li>\n\n\n\n
- Traders will see if the bears can create follow-through selling or will the market trade slightly lower but reverse up with a long tail below or a bull body.<\/li>\n\n\n\n
- While the Emini could still trade a little lower, odds slightly favor the market to still be Always In Long.<\/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\/09\/Emini-Daily-Still-PB-Mode-2nd-Leg-Down-Test-BO-Point-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- The Emini traded lower and closed below the August 18 low this week. Friday was a follow-through bear bar.<\/li>\n\n\n\n
- Last week, we said that odds slightly favor the market to still be in the sideway to down pullback phase and to trade at least a little lower early the week.<\/li>\n\n\n\n
- The bears got a reversal from a climactic move and a wedge pattern (Dec 13, Feb 2, and Jul 27).<\/li>\n\n\n\n
- They want a second leg sideways to down from a lower high major trend reversal and a double top bear flag (Sept 1 and Sept 14). They got that this week.<\/li>\n\n\n\n
- They want a deeper pullback, testing the February 2 high which was the breakout point of the recent rally.<\/li>\n\n\n\n
- They will need to create consecutive bear bars closing near their lows, trading far below the August 18 low to increase the odds of a reversal down.<\/li>\n\n\n\n
- The selloff from September 14 is in a tight bear channel. It increases the odds of at least a small second leg sideways to down after a small pullback.<\/li>\n\n\n\n
- The bulls want a reversal up from a double bottom bull flag (Aug 18) followed by a retest of the July 27 high and a strong breakout above.<\/li>\n\n\n\n
- They see the current move simply as a two-legged pullback.<\/li>\n\n\n\n
- If the market trades lower, the bulls want a reversal up around the February 2 high, which was the breakout point of the recent rally.<\/li>\n\n\n\n
- Since Friday was a small bear bar closing near its low, it is a sell signal bar for Monday.<\/li>\n\n\n\n
- The market may gap down on Monday. Small gaps usually close early.<\/li>\n\n\n\n
- For now, the market may still be in the sideways-to-down pullback phase.<\/li>\n\n\n\n
- Traders will see if the bears can create follow-through selling or will the market trade slightly lower but find buyers around the February 2 high area.<\/li>\n\n\n\n
- While the Emini could still trade a little lower, odds slightly favor the market to still be Always In Long.<\/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
<\/a><\/figure>\n\n\n\n- \n
- This week\u2019s Emini candlestick <\/a>was a big bear bar closing near its low.<\/li>\n\n\n\n
- Last week, we said that the market may first break out below the inside bar and traders will see if the bears can get follow-through selling or will the market trade slightly lower but reverse to close with a long tail below or a bull body.<\/li>\n\n\n\n
- This week broke below the bear inside bar with strong selling and closed below the 20-week exponential moving average.<\/li>\n\n\n\n
- Previously, the bulls got a strong trend up (since March) in a tight bull channel. <\/li>\n\n\n\n
- The bulls hope to get a larger second leg sideways to up after the current pullback.<\/li>\n\n\n\n
- They want a reversal up from a double bottom bull flag (Aug 18 and Sept 22) and the Emini to reverse back above the 20-week exponential moving average.<\/li>\n\n\n\n
- They want a retest of the July 27 high followed by a strong breakout above.<\/li>\n\n\n\n
- The bears got a two-legged pullback testing near the breakout point (Feb 2).<\/li>\n\n\n\n
- This week broke out below the ii (inside inside) pattern and closed below the 20-week EMA. The bears need to create follow-through selling to increase the odds of a reversal.<\/li>\n\n\n\n
- Since this week\u2019s candlestick was a big bear bar closing near its low, it is a sell signal bar for next week.<\/li>\n\n\n\n
- The market may gap down on Monday. Small gaps usually close early.<\/li>\n\n\n\n
- For now, odds slightly favor the Emini to trade at least a little lower.<\/li>\n\n\n\n
- Traders will see if the bears can create follow-through selling or will the market trade slightly lower but reverse up with a long tail below or a bull body.<\/li>\n\n\n\n
- While the Emini could still trade a little lower, odds slightly favor the market to still be Always In Long.<\/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 lower and closed below the August 18 low this week. Friday was a follow-through bear bar.<\/li>\n\n\n\n
- Last week, we said that odds slightly favor the market to still be in the sideway to down pullback phase and to trade at least a little lower early the week.<\/li>\n\n\n\n
- The bears got a reversal from a climactic move and a wedge pattern (Dec 13, Feb 2, and Jul 27).<\/li>\n\n\n\n
- They want a second leg sideways to down from a lower high major trend reversal and a double top bear flag (Sept 1 and Sept 14). They got that this week.<\/li>\n\n\n\n
- They want a deeper pullback, testing the February 2 high which was the breakout point of the recent rally.<\/li>\n\n\n\n
- They will need to create consecutive bear bars closing near their lows, trading far below the August 18 low to increase the odds of a reversal down.<\/li>\n\n\n\n
- The selloff from September 14 is in a tight bear channel. It increases the odds of at least a small second leg sideways to down after a small pullback.<\/li>\n\n\n\n
- The bulls want a reversal up from a double bottom bull flag (Aug 18) followed by a retest of the July 27 high and a strong breakout above.<\/li>\n\n\n\n
- They see the current move simply as a two-legged pullback.<\/li>\n\n\n\n
- If the market trades lower, the bulls want a reversal up around the February 2 high, which was the breakout point of the recent rally.<\/li>\n\n\n\n
- Since Friday was a small bear bar closing near its low, it is a sell signal bar for Monday.<\/li>\n\n\n\n
- The market may gap down on Monday. Small gaps usually close early.<\/li>\n\n\n\n
- For now, the market may still be in the sideways-to-down pullback phase.<\/li>\n\n\n\n
- Traders will see if the bears can create follow-through selling or will the market trade slightly lower but find buyers around the February 2 high area.<\/li>\n\n\n\n
- While the Emini could still trade a little lower, odds slightly favor the market to still be Always In Long.<\/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