S&P500 E-mini futures<\/h2>\n\n\n\nThe Weekly<\/em> S&P 500 E-mini chart<\/h3>\n\n\n\n![\"E-mini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/12\/E-mini-Weekly-2nd-Leg-Down-Bears-Need-FT-Selling-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- This week\u2019s E-mini candlestick was a bear bar closing in its upper half with a long tail below.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bears could create a follow-through bear bar, or whether the market lacks follow-through selling and instead retests the all-time high in the weeks ahead.<\/li>\n\n\n\n
- The market traded lower in the first half of the week but reversed to close off the week\u2019s low by Friday.<\/li>\n\n\n\n
- Bears created the first streak of four consecutive bear bodies since February, testing the 20-week EMA in November.<\/li>\n\n\n\n
- They see the recent rally (Dec 11) as a retest of the prior trend extreme high (Oct 29).<\/li>\n\n\n\n
- They hope the market stalls near the November 12 high area, forming a double top bear flag (Nov 12 and Dec 11) and a lower high major trend reversal.<\/li>\n\n\n\n
- They are looking for a second leg sideways to down to retest the November 21 low. The market formed the second leg sideways to down this week but the follow-through selling remains limited.<\/li>\n\n\n\n
- If the market trades higher, bears want the December 11 high area to act as resistance, stalling at another lower high, forming a larger double top bear flag (with Dec 11) or a wedge bear flag (with Nov 12 and Dec 11).<\/li>\n\n\n\n
- Bears need strong follow-through selling trading below the 20-week EMA to show they are in control.<\/li>\n\n\n\n
- Bulls see the recent selloff (Nov 21) as a pullback that has alleviated overbought conditions.<\/li>\n\n\n\n
- They see this week as the second leg sideways to down of the pullback phase want it to be weak and trading sideways.<\/li>\n\n\n\n
- Bulls want the 20-week EMA to act as support, forming a wedge bull flag, with the first two legs being Oct 10 and Nov 21, or a double bottom bull flag (Nov 21 and Dec 17).<\/li>\n\n\n\n
- They want a retest and breakout above the all-time high, followed by a resumption of the bull trend.<\/li>\n\n\n\n
- At the least, they want a second leg sideways to up to retest the December 11 high.<\/li>\n\n\n\n
- The recent pullback to the 20-week EMA (Nov 21) has traders asking whether overbought conditions have been sufficiently worked off.<\/li>\n\n\n\n
- While the market has made new all-time highs since September, the overlapping range in the last 14-weeks indicates more two-sided trading evidence of a loss of momentum.<\/li>\n\n\n\n
- For now, traders will watch whether bears can create more follow-through testing the 20-week EMA.<\/li>\n\n\n\n
- Or whether the market lacks follow-through selling followed by a retest of the December 11 high in the weeks ahead instead.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> S&P 500 E-mini chart<\/h3>\n\n\n\n![\"E-mini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2025\/12\/E-mini-Daily-Bears-Want-2nd-Leg-Bulls-Want-Retest-High-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The market traded lower in the first half of the week. Thursday gapped higher and formed a pullback, and Friday traded higher, closing above the 20-day EMA.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bears could generate follow-through selling below the 20-day EMA, or whether the move would stall around the 20-day EMA and be followed by a second leg sideways to up.<\/li>\n\n\n\n
- Bulls hope the November 21 pullback has relieved overbought conditions.<\/li>\n\n\n\n
- They view this week (Dec 17) as a pullback and want the 20-day EMA to act as support.<\/li>\n\n\n\n
- Bulls want a reversal from a wedge bull flag, with the first two legs on October 10 and November 21.<\/li>\n\n\n\n
- They hope for a retest and breakout above the all-time high with sustained follow-through buying to increase the odds of trend resumption.<\/li>\n\n\n\n
- If the market trades lower, bulls want a higher low relative to the November 21 low.<\/li>\n\n\n\n
- Bears see the recent rally as a retest of the all-time high (Oct 29).<\/li>\n\n\n\n
- They want the market to stall near the November 12 high, forming a double top bear flag (Nov 12 and Dec 11) and a larger lower high major trend reversal.<\/li>\n\n\n\n
- Bears see Friday\u2019s move as a pullback and want at least a small second leg sideways to down to retest the December 17 low.<\/li>\n\n\n\n
- Bears need consecutive strong bear bars closing near their lows and trading well below the 20-day EMA to signal control.<\/li>\n\n\n\n
- If the market trades higher, bears want it to stall near the December 11 high, forming another lower high.<\/li>\n\n\n\n
- Since September, the market has made new all-time highs with increasingly overlapping ranges, indicating more two-sided trading and reduced momentum.<\/li>\n\n\n\n
- Traders are watching whether bears can create a second leg sideways to down below the 20-day EMA, or whether the pullback holds around the 20-day EMA as a higher low relative to November 21, followed by a second leg sideways to up instead.<\/li>\n<\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Al Brooks and other presenters talk about the detailed E-mini price action real-time each day in the Brooks Trading Course 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<\/div>\n\n\n\n
- \n
- This week\u2019s E-mini candlestick was a bear bar closing in its upper half with a long tail below.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bears could create a follow-through bear bar, or whether the market lacks follow-through selling and instead retests the all-time high in the weeks ahead.<\/li>\n\n\n\n
- The market traded lower in the first half of the week but reversed to close off the week\u2019s low by Friday.<\/li>\n\n\n\n
- Bears created the first streak of four consecutive bear bodies since February, testing the 20-week EMA in November.<\/li>\n\n\n\n
- They see the recent rally (Dec 11) as a retest of the prior trend extreme high (Oct 29).<\/li>\n\n\n\n
- They hope the market stalls near the November 12 high area, forming a double top bear flag (Nov 12 and Dec 11) and a lower high major trend reversal.<\/li>\n\n\n\n
- They are looking for a second leg sideways to down to retest the November 21 low. The market formed the second leg sideways to down this week but the follow-through selling remains limited.<\/li>\n\n\n\n
- If the market trades higher, bears want the December 11 high area to act as resistance, stalling at another lower high, forming a larger double top bear flag (with Dec 11) or a wedge bear flag (with Nov 12 and Dec 11).<\/li>\n\n\n\n
- Bears need strong follow-through selling trading below the 20-week EMA to show they are in control.<\/li>\n\n\n\n
- Bulls see the recent selloff (Nov 21) as a pullback that has alleviated overbought conditions.<\/li>\n\n\n\n
- They see this week as the second leg sideways to down of the pullback phase want it to be weak and trading sideways.<\/li>\n\n\n\n
- Bulls want the 20-week EMA to act as support, forming a wedge bull flag, with the first two legs being Oct 10 and Nov 21, or a double bottom bull flag (Nov 21 and Dec 17).<\/li>\n\n\n\n
- They want a retest and breakout above the all-time high, followed by a resumption of the bull trend.<\/li>\n\n\n\n
- At the least, they want a second leg sideways to up to retest the December 11 high.<\/li>\n\n\n\n
- The recent pullback to the 20-week EMA (Nov 21) has traders asking whether overbought conditions have been sufficiently worked off.<\/li>\n\n\n\n
- While the market has made new all-time highs since September, the overlapping range in the last 14-weeks indicates more two-sided trading evidence of a loss of momentum.<\/li>\n\n\n\n
- For now, traders will watch whether bears can create more follow-through testing the 20-week EMA.<\/li>\n\n\n\n
- Or whether the market lacks follow-through selling followed by a retest of the December 11 high in the weeks ahead instead.<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> S&P 500 E-mini chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n- \n
- The market traded lower in the first half of the week. Thursday gapped higher and formed a pullback, and Friday traded higher, closing above the 20-day EMA.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bears could generate follow-through selling below the 20-day EMA, or whether the move would stall around the 20-day EMA and be followed by a second leg sideways to up.<\/li>\n\n\n\n
- Bulls hope the November 21 pullback has relieved overbought conditions.<\/li>\n\n\n\n
- They view this week (Dec 17) as a pullback and want the 20-day EMA to act as support.<\/li>\n\n\n\n
- Bulls want a reversal from a wedge bull flag, with the first two legs on October 10 and November 21.<\/li>\n\n\n\n
- They hope for a retest and breakout above the all-time high with sustained follow-through buying to increase the odds of trend resumption.<\/li>\n\n\n\n
- If the market trades lower, bulls want a higher low relative to the November 21 low.<\/li>\n\n\n\n
- Bears see the recent rally as a retest of the all-time high (Oct 29).<\/li>\n\n\n\n
- They want the market to stall near the November 12 high, forming a double top bear flag (Nov 12 and Dec 11) and a larger lower high major trend reversal.<\/li>\n\n\n\n
- Bears see Friday\u2019s move as a pullback and want at least a small second leg sideways to down to retest the December 17 low.<\/li>\n\n\n\n
- Bears need consecutive strong bear bars closing near their lows and trading well below the 20-day EMA to signal control.<\/li>\n\n\n\n
- If the market trades higher, bears want it to stall near the December 11 high, forming another lower high.<\/li>\n\n\n\n
- Since September, the market has made new all-time highs with increasingly overlapping ranges, indicating more two-sided trading and reduced momentum.<\/li>\n\n\n\n
- Traders are watching whether bears can create a second leg sideways to down below the 20-day EMA, or whether the pullback holds around the 20-day EMA as a higher low relative to November 21, followed by a second leg sideways to up instead.<\/li>\n<\/ul>\n\n\n\n
Trading room<\/h2>\n\n\n\n
Al Brooks and other presenters talk about the detailed E-mini price action real-time each day in the Brooks Trading Course 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