Trading Update: Friday March 20, 2026
S&P E-mini market analysis
E-mini daily chart
- The Emini yesterday formed a bull reversal bar closing near its midpoint yesterday, after testing below the November 2024 lows.
- This is likely an area of support and the market will probably find buyers around this location and the 6,600 round number.
- There are probably buyers below yesterday’s low willing to scale in lower.
- The bears are hopeful that the selling pressure will continue on the daily chart. More likely, the bulls will get a reversal up and a test back to the 6,900 over the next several weeks.
- Overall, the selling is getting climactic at support. This increases the odds that the market will likely find buyers near the November low and the 6,600 round number.
E-mini 5-minute chart and what to expect today
- Today gapped down on the open and bears managed to get a double top with bars 1 and 4. The bears got a strong breakout below the bar 3 neckline and the market fell for a measured move down.
- While the bar 4-6 bear breakout was strong, the reality was that it was likely a bear leg in what would become a trading range.
- This increased the odds of the bulls getting a reversal up and test back to the bar 3 low later today.
- As of bar 34 the bulls have managed to form a tight bull channel. They are hopeful that it is forming an endless pullback that will lead to an upside bull breakout. Even if the bulls get the upside breakout. A trading range is most likely.
Yesterday’s E-mini setups
Richard created the SP500 E-mini chart.
Here are reasonable stop entry setups from yesterday. Chart shows each buy entry bar with a green arrow and each sell entry bar with a red arrow. Buyers of the Brooks Trading Course have access to a near 4-year library of detailed explanations of swing trade setups (see Online Course/BTC Daily Setups) linked to the Brooks Encyclopedia of Chart Patterns product.
The goal with these charts is to present an Always In perspective. If a trader was trying to be Always In or nearly Always In a position all day, and he was not currently in the market, these entries would be logical times for him to enter. These therefore are swing entries.
It is important to understand that most swing setups do not lead to swing trades. As soon as traders are disappointed, many exit. Those who exit prefer to get out with a small profit (scalp), but often have to exit with a small loss.
If the risk is too big for your account, you should wait for trades with less risk or trade an alternative market like the Micro E-mini.
Summary of today’s S&P E-mini price action
Richard created the SP500 E-mini chart.
E-mini end of day video review
Periodic end of day review videos will be moved to top of page when done.
See the weekly update for a discussion of the price action on the weekly chart and for what to expect going into next week.
Trading Room
Al Brooks and other presenters talk about the detailed E-mini price action real-time each day in the Brooks Trading Course trading room. We offer a 2 day free trial.
Charts use Pacific Time
When times are mentioned, it is USA Pacific Time. The E-mini day session charts begin at 6:30 am PT and end at 1:15 pm PT which is 15 minutes after the NYSE closes. You can read background information on the market reports on the Market Update page.
below the November 2024 lows.
2025
Hi Brad,
I have a question regarding the current market structure.
We’re looking at four consecutive weekly bear bars, combined with weak fundamentals. Given this, I’m not expecting any meaningful bounce. I believe the path of least resistance remains to the downside, though I recognize we are currently in a trading range.
That said, what I’m hoping to see next week is another weekly bear bar that closes below the midpoint of its range, which I believe will be a decent sell signal bar.
Is this a reasonable expectation from a pure price action perspective? Or am I letting my bearish bias override what the market is actually telling me? Or am I falling into a second leg trap within the trading range?
Thank you very much for answering me.
I kinda have the same thought… however right now we are at major support level, maybe a bounce can happen, although I think chance that we go back to 6900 is small. Could be a pb back to major fb level and then bear recontrol the market again, forming HL and making LL in the next few weeks. I’m confused too.
My thoughts as of 03/24: ”
Market Narrative:
The D1 regime is AIS — the last Flip Trigger produced Good FT from the pullback, and the bear channel remains intact. The market cycle reads as a confirmed breakout of a prior TR now converting into what could become a sustained AIS bear trend; the channel is still early, not late, and momentum is building within it.
Structure is a tight bear channel breaking out of the prior TR, with the weekly chart confirming a bear micro channel where the first reversal is minor. Price broke below the HTF bull major swing low — that former support at the bottom of the TR has flipped to confirmed resistance, with hard rejection today at the 6677 breakout point. The TR bottom-of-thirds zone that price broke through is now acting as overhead supply. Full EMA gaps exist below the D1 20, D1 60, and weekly 20 EMAs, and price has broken below the weekly 60 EMA with some residual buying that is being overwhelmed by bearish momentum. The BO-to-PB gap has closed, but the tight channel structure and HTF micro channel context keep the bearish read intact despite that closure.
FRVP confirms the structure read thoroughly. Value is migrating lower with each leg down — the completed Impulse POC sits outside the TR at the current bar, the PB ended without shifting the Impulse POC (weak pullback), and the live Rotation POC is now holding at bar level well below the prior rotation. The secondary Composite POC has migrated to the bar at 6600, which is an extremely bearish signal — the market’s structural center of gravity is chasing price lower. An LVN speed corridor was created by the after-hours spike into resistance, giving bears an obvious fill target for tomorrow’s session.
No MTR potential exists — there has been no break of the bear trend line, and the failed MTR filter confirms the first reversal will be minor. No wedge is reliable in a tight channel with building momentum. The dominant pattern is the L1 short setup at the Grade A cluster, with the ioi breakout confirming as a pause before continuation. Today’s bar gapped down, bulls filled the gap but were immediately rejected with a long upper tail — sellers are scaling in at every bounce. The after-hours session produced a low-volume news-driven spike that was also sold at the Grade A cluster, providing a second entry opportunity and loading the position to full size (40 contracts). The L1 FT is confirmed solid for the bears.
The bull case is weak: they managed to close the gap down but were quickly rejected, and the AH spike was sold. They need strong buying to reverse this, and structural magnets above are being steadily converted to current price levels, starving bulls of overhead targets. The bear case is dominant: channel intact, Good FT from L1, all POC reads migrating lower, and sellers defending the Grade A resistance cluster twice.”