{"id":191220,"date":"2023-10-01T01:30:00","date_gmt":"2023-10-01T08:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=191220"},"modified":"2023-09-30T15:50:51","modified_gmt":"2023-09-30T22:50:51","slug":"emini-pullback","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/emini-pullback\/","title":{"rendered":"Emini Pullback within Broad Bull Channel"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: S&amp;P 500 Emini Futures<\/h2>\n\n\n\n<p>The monthly chart formed an Emini pullback within a broad bull channel testing the 20-month exponential moving average and the bull trend line. The bulls see the market as still being in a broad bull channel and want a reversal to retest the July 27 high. The bears got the first pair of consecutive bear bars since last year (Sept 2022). They will need to create more follow-through selling closing far below the 20-month EMA to increase the odds of a reversal down.<\/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>Monthly<\/em> Emini chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Monthly-Test-BO-Point-20-Month-EMA-Bull-Trend-Line.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Monthly-Test-BO-Point-20-Month-EMA-Bull-Trend-Line-680x383.jpg\" alt=\"Emini Monthly: Test BO Point, 20-Month EMA &amp; Bull Trend Line, Emini pullback\" class=\"wp-image-191464\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Monthly-Test-BO-Point-20-Month-EMA-Bull-Trend-Line-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Monthly-Test-BO-Point-20-Month-EMA-Bull-Trend-Line-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Monthly-Test-BO-Point-20-Month-EMA-Bull-Trend-Line-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Monthly-Test-BO-Point-20-Month-EMA-Bull-Trend-Line-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Monthly-Test-BO-Point-20-Month-EMA-Bull-Trend-Line.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The&nbsp;<a href=\"https:\/\/www.investing.com\/indices\/us-spx-500-futures\" target=\"_blank\" rel=\"noreferrer noopener\">September monthly Emini candlestick<\/a>&nbsp;was a big bear bar closing near its low.<\/li>\n\n\n\n<li>Last month, we said until the bears can create strong bear bars with follow-through selling, odds slightly favor the market to still be in Always In Long.<\/li>\n\n\n\n<li>The bears managed to get follow-through selling in September testing the 20-month EMA.<\/li>\n\n\n\n<li>They see the prior rally (Jul 27) as a retest of the all-time high and want a reversal from a lower high major trend reversal.<\/li>\n\n\n\n<li>September was the first pair of consecutive bear bars since last year (Sept 2022).\u00a0<\/li>\n\n\n\n<li>The bears will need to create more follow-through selling closing far below the 20-month EMA to increase the odds of a reversal down.<\/li>\n\n\n\n<li>Previously, the bulls managed to create a tight bull channel from March to July.&nbsp;<\/li>\n\n\n\n<li>That increases the odds of at least a small second leg sideways to up after the current pullback.<\/li>\n\n\n\n<li>They see the pullback in August and September simply as a test of the Feb 2 breakout point, the 20-month EMA and the bull trend line.&nbsp;<\/li>\n\n\n\n<li>The bulls want the 20-month EMA to hold as support. They see the current move simply as a deep pullback within a broad bull channel.<\/li>\n\n\n\n<li>They want a retest of the July 27 high followed by a breakout and a test of the all-time high.&nbsp;<\/li>\n\n\n\n<li>Since September\u2019s candlestick was a bear bar closing near its low, it is a sell signal bar for October.<\/li>\n\n\n\n<li>The Emini may still trade at least a little lower.<\/li>\n\n\n\n<li>Traders will see if the bears can create more follow-through selling closing below the 20-month EMA.&nbsp;<\/li>\n\n\n\n<li>Or will the market trade slightly below the 20-month EMA but reverse to close above it by the end of the month?<\/li>\n\n\n\n<li>For now, until the bears can create consecutive strong bear bars trading far below the 20-month EMA, odds slightly favor the market to still be in Always In Long.<\/li>\n<\/ul>\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\/09\/Emini-Weekly-Test-BO-Point-and-Bull-Trend-Line.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Weekly-Test-BO-Point-and-Bull-Trend-Line-680x383.jpg\" alt=\"Emini Weekly: Test BO Point and Bull Trend Line\" class=\"wp-image-191467\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Weekly-Test-BO-Point-and-Bull-Trend-Line-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Weekly-Test-BO-Point-and-Bull-Trend-Line-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Weekly-Test-BO-Point-and-Bull-Trend-Line-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Weekly-Test-BO-Point-and-Bull-Trend-Line-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Weekly-Test-BO-Point-and-Bull-Trend-Line.jpg 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 a bear bar with a long tail below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/emini-two-legged-pullback\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that odds slightly favor the Emini to trade at least a little lower and 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<li>This week traded lower but reversed to close with a long tail below, closing around the middle of the candlestick.<\/li>\n\n\n\n<li>Previously, the bulls got a strong trend up (from March) in a tight bull channel.&nbsp;<\/li>\n\n\n\n<li>The bulls hope to get a retest of the July 27 high from a double bottom bull flag (Aug 18 and Sept 27).<\/li>\n\n\n\n<li>They want the Emini to reverse back above the 20-week exponential moving average.<\/li>\n\n\n\n<li>They see the current move down simply as a deep pullback within a broad bull channel.<\/li>\n\n\n\n<li>The bears got a two-legged pullback testing the breakout point (Feb 2) and the bull trend line.<\/li>\n\n\n\n<li>They got follow-through selling this week and a consecutive bear bar below the 20-week EMA.<\/li>\n\n\n\n<li>They want a strong breakout below the bull trend line with follow-through selling.<\/li>\n\n\n\n<li>If there is a pullback (bounce), they want another leg down to complete the wedge pattern with the first 2 legs being August 18 and September 27.<\/li>\n\n\n\n<li>Since this week\u2019s candlestick was a bear bar with a long tail below, it is a sell signal bar for next week albeit weaker.<\/li>\n\n\n\n<li>Traders will see if the bears can continue creating follow-through selling or will the market stall around the current levels.<\/li>\n\n\n\n<li>For now, while the Emini could still trade a little lower, odds slightly favor the market to still be Always In Long.<\/li>\n\n\n\n<li>However, if the bears continue to get consecutive bear bars closing near their lows, that will increase the odds of a reversal down.<\/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 monthly chart formed an Emini pullback within a broad bull channel testing the 20-month exponential moving average and the bull trend line. The bulls see the market as still being in a broad bull channel and want a reversal to retest the July 27 high. The bears got [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":191467,"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":[1900,1347,60],"class_list":{"0":"post-191220","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analysis","8":"category-sp500-emini","9":"tag-broad-bull-channel","10":"tag-pullback","11":"tag-sp-emini","12":"entry","13":"override","14":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/Emini-Weekly-Test-BO-Point-and-Bull-Trend-Line.jpg","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\/191220","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=191220"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/191220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/191467"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=191220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=191220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=191220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}