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E-mini Buyers Below Last Friday’s Low

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Trading Update: Monday April 13, 2026

E-mini end of day video review

Joseph Imbornone EOD Video

S&P E-mini market analysis

E-mini daily chart

  • The E-mini began to stall last Friday, following the April 8th upside breakout. 
  • Because the reversal last week was strong, the odds were that there would be buyers below last Friday’s low willing to scale in lower. This was likely to limit the downside potential today and increase the odds of the market finding buyers on the open.
  • The 6,900 round number is a likely magnet for the market to test. The market spent a lot of time going sideways at this round number, and it’s possible that the market continues to go sideways at this round number for several weeks.
  • The bears are hopeful that the market will stabilize and begin to go sideways. They want the market to form a lower high and eventually test back down to the March low.
  • The bulls see the rally from the March low as being strong enough to reach the All-Time High.
  • Because the recent momentum is strong for the bulls, it increases the odds of a test closer to the All-time high.
  • Because a trading range is most likely on the daily chart, the odds favor the market going more sideways, leading to disappointed bulls.
  • Less likely, the market will continue to form a strong rally up to the All-Time High. This means that if the market is going to reach the All-Time High, it will likely take several weeks to get there.

E-mini 5-minute chart and what to expect today

  • Today gapped down on the open and formed an opening reversal up, leading to a strong upside breakout with bar 4.
  • Bar 4 was a strong enough bull breakout bar that the odds favored a second leg up and some measured move.
  • The bulls formed a second leg up to bar 18, however it had several smaller legs, increasing the risk that bearish trend was a possible failed breakout of wedge top.
  • Bar 19 was a strong enough reversal down that the odds favored a couple of legs down, which the bears got to bar 31.
  • Because the initial opening rally from the bar four low was strong, the odds favored the sell-off to bar 31 being a minor reversal. This increased the odds of the bulls getting an upside breakout, as they did with bars 32 – 36.
  • As of bar 40, the bulls have done a good job with the rally today. However, the last leg up from the bar 31 low is getting climactic with several overlapping bars. This increases the risk of the market testing sideways to down over the next several bars.
  • With the tails above bars during bars 36-41, the odds favor a trading range lasting for the next several hours and possibly the rest of the day.

Friday’s E-mini setups

SP500 E-mini Gap Up Double Top Then Upper and Lower Trading Ranges

Richard created the SP500 E-mini chart.

Here are reasonable stop entry setups from Friday. 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

SP500 E-mini Gap Down Opening Range Breakout into Bull Trend Day

Richard created the SP500 E-mini chart.

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.

  • RTH Daily Analysis — 04-13-2026: E-mini Possible Outside Bar Bull Trap at Parabolic Wedge Top Near 6925 Resistance

    Brad, you called it — buyers showed up below Friday’s low and they weren’t messing around. Gap down absorbed, outside up bar closing dead on its high at ~6925. That’s not weak buying.

    AIL with real momentum. Bulls broke through the 6875 area that capped them Friday and pushed straight to the resistance wall. The move from the March 30 low has now repriced the entire structure — what was a 250-point rally with no institutional buy-in on Friday now has volume building in the 6855 area. That changes the read materially from last week.

    The question is whether today’s outside bar is continuation or the final push of an exhaustion sequence. Three pushes up (04/01, 04/09, 04/13) with a parabolic acceleration into 6900-6935 — bear MSH, channel start, round number, HTF TL all sitting right there. Outside bars often trap, and this one printed at the exact zone where the answer matters most. Tomorrow’s FT will be very telling.

    Fair value migrated up from ~6620 to about 6855 since last week — massive shift. That’s real institutional repricing and the strongest argument Brad has for ATH eventually. Price is still running about 70 points ahead of where volume is settling though, and that kind of gap usually tightens.

    Levels:

    6925 — today’s high / OB close

    6900-6935 — resistance wall (channel start, bear MSH, round number, HTF TL)

    6855 — where volume is building

    6750 — 50% PB + 3rd-touch bull TL

    6660 — BO point + FVG fill

    Brad’s point about momentum being strong enough for an ATH test carries more weight after today. I lean slightly toward the OB being a trap at this resistance — the parabolic shape and location make it hard to trust — but the repricing underneath means any pullback probably gets bought. Bulls above 6935 and I’m wrong.

    How are others weighing the OB — trusting the close or fading the location?

    • The first push out of the 3 you mentioned from 6352 up to 6655, taken for a spike MM up creates a target of 6958….which is just above the the overnight range high this morning. It’s also right at the bar 1 MM target…so I’d be a seller if my plan allowed for trading against the trend. Not consistently profitable though, so I’ll simply watch and continue to enjoy James’ and Brad’s comments.

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