The Weekly<\/em> S&P 500 Emini chart<\/h3>\n\n\n\n![\"Emini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/09\/Emini-Weekly-Double-Top-or-Breakout-Trend-Resumption-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- This\u00a0week\u2019s\u00a0Emini candlestick\u00a0<\/a>was a bull bar closing in its upper half with a prominent tail above.<\/li>\n\n\n\n
- Last week<\/a>, we said that the odds slightly favor the market to trade at least a little higher. Traders will see if the bulls can create a retest and breakout above the August 30 high or if the market would trade slightly higher but stall around the August 30 high area instead.<\/li>\n\n\n\n
- The bulls made a new all-time high this week but the market closed below the July 16 high.<\/li>\n\n\n\n
- They hope\u00a0the market is in the broad bull channel phase and want a resumption of the move.<\/li>\n\n\n\n
- They must create a strong breakout with follow-through buying to increase the odds of the trend resuming.<\/li>\n\n\n\n
- If the market trades lower, they want the 20-week EMA or the bull trend line to act as support, forming a double bottom bull flag with the September 6 low.<\/li>\n\n\n\n
- The bears see the current rally as a retest of the prior all-time high.<\/li>\n\n\n\n
- They want a reversal from a double top (Jul 16 and Sep 19) and a higher high major trend reversal.<\/li>\n\n\n\n
- If the market trades higher, they want a failed breakout above the July 16 high.<\/li>\n\n\n\n
- They need to create a few strong bear bars to indicate that they are back in control.<\/li>\n\n\n\n
- Since this\u00a0week\u2019s\u00a0candlestick is\u00a0a bull bar closing in its upper half with a prominent tail above, it is a buy signal bar albeit weaker.<\/li>\n\n\n\n
- Odds slightly favor the market to still be in the sideways to up phase.<\/li>\n\n\n\n
- Traders will see if the bulls can create a breakout into new all-time high territory with follow-through buying.<\/li>\n\n\n\n
- Or will the market stall around the July high area forming some bear bars in the weeks ahead instead?<\/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\/2024\/09\/Emini-Daily-MTR-or-Breakout-Trend-Resumption-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The market traded slightly higher in the first half of the week but stalled around the August 30 high area. Thursday gapped up making a new all-time high. Friday was a small pullback.<\/li>\n\n\n\n
- Last week<\/a>, we said the market may still trade a little higher. Traders will see if the bulls can create a strong retest of the August 30 high followed by a breakout above or will the market trade slightly higher but stall around the August 30 high area and reverse lower in the weeks ahead instead?<\/li>\n\n\n\n
- The bulls hope\u00a0the\u00a0rally is in a broad bull channel\u00a0phase and want a resumption of the move.<\/li>\n\n\n\n
- The move up since the September 11 low is in a tight bull channel which means persistent buying.<\/li>\n\n\n\n
- They want a strong breakout above the all-time high with follow-through buying.<\/li>\n\n\n\n
- If the market trades lower, they want a reversal from a double bottom bull flag with the September 6 low.<\/li>\n\n\n\n
- They want the 20-day EMA or the bull trend line to act as support.<\/li>\n\n\n\n
- The bears see the current rally as a retest of the all-time high.<\/li>\n\n\n\n
- They want a reversal from a higher high major trend reversal and a double top with the prior all-time high (Jul 16).<\/li>\n\n\n\n
- They need to create consecutive bear bars closing near their lows trading far below the 20-day EMA to show they are back in control.<\/li>\n\n\n\n
- For now, the odds slightly favor the market to still be in the sideways to up phase (at least in the first half of next week).<\/li>\n\n\n\n
- Traders will see if the bulls can create a strong breakout above the September 19 high with follow-through buying.<\/li>\n\n\n\n
- Or will the market trade slightly higher but stall around the September 19 high area and reverse lower in the weeks ahead instead?<\/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\/2024\/09\/Emini-Weekly-Double-Top-or-Breakout-Trend-Resumption.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n
- \n
- This\u00a0week\u2019s\u00a0Emini candlestick\u00a0<\/a>was a bull bar closing in its upper half with a prominent tail above.<\/li>\n\n\n\n
- Last week<\/a>, we said that the odds slightly favor the market to trade at least a little higher. Traders will see if the bulls can create a retest and breakout above the August 30 high or if the market would trade slightly higher but stall around the August 30 high area instead.<\/li>\n\n\n\n
- The bulls made a new all-time high this week but the market closed below the July 16 high.<\/li>\n\n\n\n
- They hope\u00a0the market is in the broad bull channel phase and want a resumption of the move.<\/li>\n\n\n\n
- They must create a strong breakout with follow-through buying to increase the odds of the trend resuming.<\/li>\n\n\n\n
- If the market trades lower, they want the 20-week EMA or the bull trend line to act as support, forming a double bottom bull flag with the September 6 low.<\/li>\n\n\n\n
- The bears see the current rally as a retest of the prior all-time high.<\/li>\n\n\n\n
- They want a reversal from a double top (Jul 16 and Sep 19) and a higher high major trend reversal.<\/li>\n\n\n\n
- If the market trades higher, they want a failed breakout above the July 16 high.<\/li>\n\n\n\n
- They need to create a few strong bear bars to indicate that they are back in control.<\/li>\n\n\n\n
- Since this\u00a0week\u2019s\u00a0candlestick is\u00a0a bull bar closing in its upper half with a prominent tail above, it is a buy signal bar albeit weaker.<\/li>\n\n\n\n
- Odds slightly favor the market to still be in the sideways to up phase.<\/li>\n\n\n\n
- Traders will see if the bulls can create a breakout into new all-time high territory with follow-through buying.<\/li>\n\n\n\n
- Or will the market stall around the July high area forming some bear bars in the weeks ahead instead?<\/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<\/div>\n\n\n\n- \n
- The market traded slightly higher in the first half of the week but stalled around the August 30 high area. Thursday gapped up making a new all-time high. Friday was a small pullback.<\/li>\n\n\n\n
- Last week<\/a>, we said the market may still trade a little higher. Traders will see if the bulls can create a strong retest of the August 30 high followed by a breakout above or will the market trade slightly higher but stall around the August 30 high area and reverse lower in the weeks ahead instead?<\/li>\n\n\n\n
- The bulls hope\u00a0the\u00a0rally is in a broad bull channel\u00a0phase and want a resumption of the move.<\/li>\n\n\n\n
- The move up since the September 11 low is in a tight bull channel which means persistent buying.<\/li>\n\n\n\n
- They want a strong breakout above the all-time high with follow-through buying.<\/li>\n\n\n\n
- If the market trades lower, they want a reversal from a double bottom bull flag with the September 6 low.<\/li>\n\n\n\n
- They want the 20-day EMA or the bull trend line to act as support.<\/li>\n\n\n\n
- The bears see the current rally as a retest of the all-time high.<\/li>\n\n\n\n
- They want a reversal from a higher high major trend reversal and a double top with the prior all-time high (Jul 16).<\/li>\n\n\n\n
- They need to create consecutive bear bars closing near their lows trading far below the 20-day EMA to show they are back in control.<\/li>\n\n\n\n
- For now, the odds slightly favor the market to still be in the sideways to up phase (at least in the first half of next week).<\/li>\n\n\n\n
- Traders will see if the bulls can create a strong breakout above the September 19 high with follow-through buying.<\/li>\n\n\n\n
- Or will the market trade slightly higher but stall around the September 19 high area and reverse lower in the weeks ahead instead?<\/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
- Last week<\/a>, we said that the odds slightly favor the market to trade at least a little higher. Traders will see if the bulls can create a retest and breakout above the August 30 high or if the market would trade slightly higher but stall around the August 30 high area instead.<\/li>\n\n\n\n