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\/2026\/05\/E-mini-Weekly-Tight-Bull-Channel-Bears-Want-Final-Flag-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- This week formed a bull bar, closing in its upper half with a prominent tail below.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bulls could create more follow-through buying or whether the market would start to stall around the trend channel line area. There could be buyers below the first pullback from such a strong bull microchannel.<\/li>\n\n\n\n
- The market formed a pullback early in the week but found buyers below the bull microchannel.<\/li>\n\n\n\n
- Bulls have generated a strong rally in a spike and bull channel.<\/li>\n\n\n\n
- Bulls want a measured move to around 8000, based on the height of the initial spike (from the March 30 low to the April 17 high).<\/li>\n\n\n\n
- If the market forms a pullback following the breakout above the trend channel line, bulls want it to be weak and sideways, lacking follow-through, with overlapping candlesticks and prominent lower tails.<\/li>\n\n\n\n
- Bulls want at least a small second leg sideways to up to retest the trend extreme high (currently May 14) following any pullback.<\/li>\n\n\n\n
- If the market trades lower, bulls want the April 23 low (start of the bull channel) or the 20-week EMA to act as support.<\/li>\n\n\n\n
- Bears view the move as a parabolic buy climax that is unsustainable without a sideways-to-down pullback.<\/li>\n\n\n\n
- Bears want a failed breakout above the trend channel line within a few bars, followed by a test of the bull trend line.<\/li>\n\n\n\n
- Bears want a two-legged sideways-to-down pullback lasting a few weeks.<\/li>\n\n\n\n
- Bears need to generate strong bear bars breaking below the minor bull trend line to indicate strength.<\/li>\n\n\n\n
- After that, bears want a weak retest of the trend extreme high, forming a lower high major trend reversal or a small double top.<\/li>\n\n\n\n
- If the market trades higher, bears hope last week\u2019s doji becomes the final flag of the rally.<\/li>\n\n\n\n
- The market has rallied strongly over the past 8 weeks in a tight bull channel.<\/li>\n\n\n\n
- The market remains Always In Long.<\/li>\n\n\n\n
- While the move is strong, it has lasted a long time without a significant pullback, which is unsustainable and tends to attract profit-taking.<\/li>\n\n\n\n
- However, strong momentum can sometimes last longer than traders expect.<\/li>\n\n\n\n
- Traders will watch whether bulls can create more follow-through buying or whether the market starts to stall around the trend channel line area.<\/li>\n\n\n\n
- Breakouts above a trend channel line typically fail within 2 to 5 bars, leading to a pullback into the bull channel or a test of the bull trend line.<\/li>\n\n\n\n
- For now, the market may still be in the sideways-to-up phase, but the risk of a pullback from an overextended move is increasing.<\/li>\n\n\n\n
- For now, any pullback would likely be minor.<\/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\/2026\/05\/E-mini-Daily-Bulls-Want-Trend-Resumption-Bears-Want-DT-680x383.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n\n- The market traded slightly lower early in the week, followed by a retest of the trend extreme high on Friday, forming a lower high.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bulls could create more follow-through buying. If a pullback formed, traders would watch whether it was weak and sideways or strong, with consecutive bear bars closing near their lows.<\/li>\n\n\n\n
- Bears view the rally as overextended and climactic.<\/li>\n\n\n\n
- Bears see a parabolic wedge top (May 1, May 11, and May 14) and a small double top (May 14 and May 22).<\/li>\n\n\n\n
- Bears want a failed breakout above the trend channel line, followed by a pullback to test the bull trend line.<\/li>\n\n\n\n
- At a minimum, bears want a pullback to retest the start of the channel around the April 23 low area.<\/li>\n\n\n\n
- Bears hope this week\u2019s pullback, breaking a smaller minor bull trend line and followed by a retest of the prior high, can lead to a second leg sideways to down.<\/li>\n\n\n\n
- The problem with the bears\u2019 case is that they have not been able to create strong bear bars demonstrating strength.<\/li>\n\n\n\n
- Bears need consecutive strong bear bars closing near their lows and breaking strongly below the bull trend line, followed by a weak retest of the trend extreme high, to create a credible setup.<\/li>\n\n\n\n
- Bulls have generated a strong spike and channel pattern, making new all-time highs.<\/li>\n\n\n\n
- Bulls want a measured move to around 8000, based on the height of the initial spike (from the March 30 low to the April 17 high).<\/li>\n\n\n\n
- Bulls want a strong breakout above the trend channel line with sustained follow-through buying.<\/li>\n\n\n\n
- If the market forms a larger pullback, bulls want it to be weak and sideways, with overlapping candlesticks and prominent lower tails, followed by at least a small sideways-to-up leg to retest the trend extreme high (now May 14).<\/li>\n\n\n\n
- If the market forms a second leg down next week, bulls want it to stall around the May 19 high area, forming a double bottom bull flag.<\/li>\n\n\n\n
- If the market trades lower, bulls want the 20-day EMA or the April 23 low to act as support.<\/li>\n\n\n\n
- The market is Always In Long.<\/li>\n\n\n\n
- The market has formed a spike and channel bull trend.<\/li>\n\n\n\n
- The bull channel phase starting from the April 23 low is relatively tight, which acts as a spike on a higher time frame chart.<\/li>\n\n\n\n
- Consecutive spikes (climaxes) increase the odds of a minor pullback within a few weeks.<\/li>\n\n\n\n
- The market remains in the sideways-to-up phase, with an increasing risk of a two-legged minor pullback.<\/li>\n\n\n\n
- While the market appears overextended and climactic, strong momentum can sometimes last much longer than traders expect.<\/li>\n\n\n\n
- Traders will watch whether bulls can create more follow-through buying. If a pullback forms, traders will watch whether it is weak and sideways or strong, with consecutive bear bars closing near their lows.<\/li>\n\n\n\n
- If the market trades higher, traders will watch for unusually large bull bars or a blow-off top.<\/li>\n\n\n\n
- Traders will also watch whether the market forms a second leg sideways to down that stalls around the May 19 low area.<\/li>\n\n\n\n
- For now, any pullback would likely be minor.<\/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
![\"E-mini](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2026\/05\/E-mini-Weekly-Tight-Bull-Channel-Bears-Want-Final-Flag.jpg\" "\\"\\"")
<\/a><\/figure>\n\n\n\n<\/div>\n\n\n\n
- \n
- This week formed a bull bar, closing in its upper half with a prominent tail below.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bulls could create more follow-through buying or whether the market would start to stall around the trend channel line area. There could be buyers below the first pullback from such a strong bull microchannel.<\/li>\n\n\n\n
- The market formed a pullback early in the week but found buyers below the bull microchannel.<\/li>\n\n\n\n
- Bulls have generated a strong rally in a spike and bull channel.<\/li>\n\n\n\n
- Bulls want a measured move to around 8000, based on the height of the initial spike (from the March 30 low to the April 17 high).<\/li>\n\n\n\n
- If the market forms a pullback following the breakout above the trend channel line, bulls want it to be weak and sideways, lacking follow-through, with overlapping candlesticks and prominent lower tails.<\/li>\n\n\n\n
- Bulls want at least a small second leg sideways to up to retest the trend extreme high (currently May 14) following any pullback.<\/li>\n\n\n\n
- If the market trades lower, bulls want the April 23 low (start of the bull channel) or the 20-week EMA to act as support.<\/li>\n\n\n\n
- Bears view the move as a parabolic buy climax that is unsustainable without a sideways-to-down pullback.<\/li>\n\n\n\n
- Bears want a failed breakout above the trend channel line within a few bars, followed by a test of the bull trend line.<\/li>\n\n\n\n
- Bears want a two-legged sideways-to-down pullback lasting a few weeks.<\/li>\n\n\n\n
- Bears need to generate strong bear bars breaking below the minor bull trend line to indicate strength.<\/li>\n\n\n\n
- After that, bears want a weak retest of the trend extreme high, forming a lower high major trend reversal or a small double top.<\/li>\n\n\n\n
- If the market trades higher, bears hope last week\u2019s doji becomes the final flag of the rally.<\/li>\n\n\n\n
- The market has rallied strongly over the past 8 weeks in a tight bull channel.<\/li>\n\n\n\n
- The market remains Always In Long.<\/li>\n\n\n\n
- While the move is strong, it has lasted a long time without a significant pullback, which is unsustainable and tends to attract profit-taking.<\/li>\n\n\n\n
- However, strong momentum can sometimes last longer than traders expect.<\/li>\n\n\n\n
- Traders will watch whether bulls can create more follow-through buying or whether the market starts to stall around the trend channel line area.<\/li>\n\n\n\n
- Breakouts above a trend channel line typically fail within 2 to 5 bars, leading to a pullback into the bull channel or a test of the bull trend line.<\/li>\n\n\n\n
- For now, the market may still be in the sideways-to-up phase, but the risk of a pullback from an overextended move is increasing.<\/li>\n\n\n\n
- For now, any pullback would likely be minor.<\/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 slightly lower early in the week, followed by a retest of the trend extreme high on Friday, forming a lower high.<\/li>\n\n\n\n
- Last week<\/a>, we said traders would watch whether bulls could create more follow-through buying. If a pullback formed, traders would watch whether it was weak and sideways or strong, with consecutive bear bars closing near their lows.<\/li>\n\n\n\n
- Bears view the rally as overextended and climactic.<\/li>\n\n\n\n
- Bears see a parabolic wedge top (May 1, May 11, and May 14) and a small double top (May 14 and May 22).<\/li>\n\n\n\n
- Bears want a failed breakout above the trend channel line, followed by a pullback to test the bull trend line.<\/li>\n\n\n\n
- At a minimum, bears want a pullback to retest the start of the channel around the April 23 low area.<\/li>\n\n\n\n
- Bears hope this week\u2019s pullback, breaking a smaller minor bull trend line and followed by a retest of the prior high, can lead to a second leg sideways to down.<\/li>\n\n\n\n
- The problem with the bears\u2019 case is that they have not been able to create strong bear bars demonstrating strength.<\/li>\n\n\n\n
- Bears need consecutive strong bear bars closing near their lows and breaking strongly below the bull trend line, followed by a weak retest of the trend extreme high, to create a credible setup.<\/li>\n\n\n\n
- Bulls have generated a strong spike and channel pattern, making new all-time highs.<\/li>\n\n\n\n
- Bulls want a measured move to around 8000, based on the height of the initial spike (from the March 30 low to the April 17 high).<\/li>\n\n\n\n
- Bulls want a strong breakout above the trend channel line with sustained follow-through buying.<\/li>\n\n\n\n
- If the market forms a larger pullback, bulls want it to be weak and sideways, with overlapping candlesticks and prominent lower tails, followed by at least a small sideways-to-up leg to retest the trend extreme high (now May 14).<\/li>\n\n\n\n
- If the market forms a second leg down next week, bulls want it to stall around the May 19 high area, forming a double bottom bull flag.<\/li>\n\n\n\n
- If the market trades lower, bulls want the 20-day EMA or the April 23 low to act as support.<\/li>\n\n\n\n
- The market is Always In Long.<\/li>\n\n\n\n
- The market has formed a spike and channel bull trend.<\/li>\n\n\n\n
- The bull channel phase starting from the April 23 low is relatively tight, which acts as a spike on a higher time frame chart.<\/li>\n\n\n\n
- Consecutive spikes (climaxes) increase the odds of a minor pullback within a few weeks.<\/li>\n\n\n\n
- The market remains in the sideways-to-up phase, with an increasing risk of a two-legged minor pullback.<\/li>\n\n\n\n
- While the market appears overextended and climactic, strong momentum can sometimes last much longer than traders expect.<\/li>\n\n\n\n
- Traders will watch whether bulls can create more follow-through buying. If a pullback forms, traders will watch whether it is weak and sideways or strong, with consecutive bear bars closing near their lows.<\/li>\n\n\n\n
- If the market trades higher, traders will watch for unusually large bull bars or a blow-off top.<\/li>\n\n\n\n
- Traders will also watch whether the market forms a second leg sideways to down that stalls around the May 19 low area.<\/li>\n\n\n\n
- For now, any pullback would likely be minor.<\/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