{"id":226174,"date":"2024-12-29T01:30:00","date_gmt":"2024-12-29T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=226174"},"modified":"2024-12-29T00:20:43","modified_gmt":"2024-12-29T08:20:43","slug":"weekly-emini-trading-range","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/weekly-emini-trading-range\/","title":{"rendered":"Weekly Emini Trading Range"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: S&amp;P 500 Emini Futures<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The market is forming a weekly Emini trading range. The bears see this week simply as a pullback and want at least a small second leg sideways to down. The bulls see the current move simply as a pullback and want the market to resume higher from a double bottom bull flag (Nov 4 and Dec 20). They hope that the pullback will have poor follow-through selling.<\/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\/2024\/12\/Emini-Weekly-Inside-Doji-2nd-Leg-Down-or-Retest-High.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Weekly-Inside-Doji-2nd-Leg-Down-or-Retest-High-680x383.jpg\" alt=\"Emini Weekly - Inside Doji, 2nd Leg Down or Retest High, Weekly Emini Trading Range\" class=\"wp-image-226348\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Weekly-Inside-Doji-2nd-Leg-Down-or-Retest-High-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Weekly-Inside-Doji-2nd-Leg-Down-or-Retest-High-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Weekly-Inside-Doji-2nd-Leg-Down-or-Retest-High-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Weekly-Inside-Doji-2nd-Leg-Down-or-Retest-High-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Weekly-Inside-Doji-2nd-Leg-Down-or-Retest-High.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\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\u00a0week\u2019s\u00a0Emini candlestick\u00a0<\/a>was an inside bull doji with a long tail above, closing in its lower half.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/emini-pullback-to-the-20-week-ema\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders would see if the bears could create more follow-through selling or if the market would retest the all-time high (Dec 6) instead.<\/li>\n\n\n\n<li>The market traded higher for most of the week. Friday traded lower, closing the week off its high. The bears did not get a follow-through bear bar.<\/li>\n\n\n\n<li>The bears got a pullback from a large wedge (Mar 21, Jul 16, and Dec 6), an embedded wedge (Aug 30, Oct 17, and Dec 6) and a micro wedge (Nov 22, Nov 29, and Dec 6).<\/li>\n\n\n\n<li>They see the market as being extended and overbought and hope to get a TBTL (Ten Bars, Two Legs) pullback lasting at least a few weeks.<\/li>\n\n\n\n<li>They see this week simply as a pullback and want at least a small second leg sideways to down.<\/li>\n\n\n\n<li>The next target for the bears is the October \/ November lows area.<\/li>\n\n\n\n<li>The bulls created a large wedge pattern (Mar 21, Jul 16, and Dec 6), an embedded wedge (Aug 30, Oct 17, and Dec 6) and a micro wedge (Nov 22, Nov 29, and Dec 6).<\/li>\n\n\n\n<li>They see the market as being in a broad bull channel and want the market to continue sideways to up for months.<\/li>\n\n\n\n<li>They see the current move simply as a pullback and want the market to resume higher from a double bottom bull flag (Nov 4 and Dec 20).<\/li>\n\n\n\n<li>They hope that the pullback will have poor follow-through selling.<\/li>\n\n\n\n<li>They want the 20-week EMA, the October\/November lows, or the bull trend line to act as support.<\/li>\n\n\n\n<li>Since this\u00a0week\u2019s\u00a0candlestick is\u00a0an inside doji, the market is in breakout mode. The bulls want a breakout above while the bears want a breakout below the inside bar.<\/li>\n\n\n\n<li>The first breakout can fail 50% of the time.<\/li>\n\n\n\n<li>Traders will see if the bears can create a second leg sideways to down breaking far below the 20-week EMA or the bull trend line.<\/li>\n\n\n\n<li>Or will the market continue to stall sideways and retest the all-time high (Dec 6) in the next few weeks instead?<\/li>\n\n\n\n<li>The market may have entered a trading range phase.<\/li>\n\n\n\n<li>The bears need to do more and create sustained selling pressure to convince traders that they are back in control.<\/li>\n\n\n\n<li>If the pullback remains sideways and shallow (overlapping candlesticks, with bull bars, doji(s), and candlesticks with long tails below), the odds of a resumption higher will increase.<\/li>\n\n\n\n<li>For now, odds slightly favor the pullback to be minor and not lead to a reversal.<\/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\/2024\/12\/Emini-Daily-Bears-Want-2nd-Leg-Bulls-Want-Retest-High.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Daily-Bears-Want-2nd-Leg-Bulls-Want-Retest-High-680x383.jpg\" alt=\"Emini Daily - Bears Want 2nd Leg, Bulls Want Retest High\" class=\"wp-image-226351\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Daily-Bears-Want-2nd-Leg-Bulls-Want-Retest-High-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Daily-Bears-Want-2nd-Leg-Bulls-Want-Retest-High-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Daily-Bears-Want-2nd-Leg-Bulls-Want-Retest-High-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Daily-Bears-Want-2nd-Leg-Bulls-Want-Retest-High-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Daily-Bears-Want-2nd-Leg-Bulls-Want-Retest-High.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The market traded higher for most of the week. Friday formed a pullback closing as a bear bar with a long tail below.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/emini-pullback-to-the-20-week-ema\/\" target=\"_blank\" rel=\"noreferrer noopener\">Last week<\/a>, we said that traders would see if the bulls could create a retest of the all-time high and a breakout above within the next few weeks or if the bears would be able to create a second leg sideways to down instead.<\/li>\n\n\n\n<li>The bulls see the market trading in a broad bull channel and want the move to continue for months. They want an endless pullback bull trend.<\/li>\n\n\n\n<li>They want a retest of the all-time high (Dec 6) from a double bottom bull flag (Nov 4 and Dec 20).<\/li>\n\n\n\n<li>They see Friday simply as a pullback and want at least a small second leg sideways to up to retest the all-time high.<\/li>\n\n\n\n<li>The bears got a reversal from a large wedge pattern (Mar 21, Jul 16, and Dec 6) and an embedded wedge (Aug 30, Oct 17, and Dec 6).<\/li>\n\n\n\n<li>They see the move up from October 2023 as extended and overbought and want a pullback lasting at least a few weeks &#8211; a TBTL (ten bars, two legs) pullback.<\/li>\n\n\n\n<li>They see this week as a retest of the prior trend extreme high and want a reversal from a lower high major trend reversal and a head and shoulders pattern.<\/li>\n\n\n\n<li>If the market trades higher, they want a reversal from a higher high major trend reversal or a double top with the December 6 high.<\/li>\n\n\n\n<li>They want the 20-day EMA or the bear trend line to act as resistance.<\/li>\n\n\n\n<li>They need to create consecutive bear bars closing near their lows trading far below the 100-day EMA to show they are back in control.<\/li>\n\n\n\n<li>So far, the market has transitioned into a 7-week trading range.<\/li>\n\n\n\n<li>Traders are wondering if the recent pullback to the December 20 low is enough to alleviate the overbought condition.<\/li>\n\n\n\n<li>The lack of sustained follow-through selling indicates that the bears are not yet as strong as they hoped to be.<\/li>\n\n\n\n<li>The bears need to create consecutive bear bars closing near their lows to show they are back in control.<\/li>\n\n\n\n<li>Traders will see if the bulls can create a retest of the all-time high and a breakout above within the next few weeks.<\/li>\n\n\n\n<li>Or will the bears be able to create a second leg sideways to down (perhaps testing the Oct\/Nov lows) instead?<\/li>\n\n\n\n<li>For now, odds slightly favor the pullback to be minor and not lead to a reversal.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Trading room<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">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 class=\"wp-block-paragraph\">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 market is forming a weekly Emini trading range. The bears see this week simply as a pullback and want at least a small second leg sideways to down. The bulls see the current move simply as a pullback and want the market to resume higher from a double [&hellip;]<\/p>\n","protected":false},"author":2836,"featured_media":226348,"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":[60],"class_list":["post-226174","post","type-post","status-publish","format-standard","has-post-thumbnail","category-analysis","category-sp500-emini","tag-sp-emini","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/12\/Emini-Weekly-Inside-Doji-2nd-Leg-Down-or-Retest-High.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\/226174","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=226174"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/226174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/226348"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=226174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=226174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=226174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}