Trading Update: Tuesday June 30, 2026
S&P E-mini market analysis
E-mini daily chart
- The daily chart of the E-mini is forming a triangle, with yesterday forming a bull bar that closed on its high — a strong enough bull reversal bar that the odds favor at least a second leg up.
- So far, today is getting strong follow-through for the bulls, and the bulls are hopeful that today will form a bull bar closing on its high.
- A bull bar closing on its high would increase the odds of a second leg up and a test of the June 15th high.
- The rally from June 11th to June 15th is strong enough for traders to expect a second leg, and the reversal up yesterday and so far today appears to be the resumption and start of that second leg.
- The daily chart formed a strong rally from the April low up to the June high, so traders will expect the June all-time high to get retested.
- This increases the odds that more traders will buy, betting on a test of the all-time high.
- Even if the market reaches the all-time high, the odds are it will go sideways for several bars, which increases the risk that the downside will likely be limited.
- Overall, the reversal up with follow-through yesterday and today is strong enough that traders will expect the first reversal down to be minor, increasing the odds of a second leg to the upside.
E-mini 5-minute chart and what to expect today
- The E-mini formed a small gap up and a bull trend from the open, with the first seven bars being bull bars.
- Although the first four bars had overlap, the reversal up to bar 7 was strong enough that the odds favored the first reversal down being minor and the bulls getting a second leg.
- The bulls got a second leg up to bar 13 and a reversal down on bar 14.
- While yesterday was climactic and the reversal in today’s rally was not as strong as it could be, the odds still favored a test of the moving average and finding buyers; this meant that when the bears got the reversal down on bar 14, the market would probably test down to the moving average.
- However, unless the bears could break strongly below the moving average, the move down was likely to fail, and the bears tried to break below the moving average on bar 17, but bar 18 was not enough.
- When bar 18 closed as a disappointing follow-through bar for the bears, bears bought back shorts and bulls started buying because it was a micro channel down at the bar 18 low, and many bulls will wait for bar 19 and buy above it.
- So far, bars 18 to 34 have been in a tight bull channel, and this is a small pullback bull trend, which means the downside risk is likely limited.
- The bears will have to make the market go sideways for many more bars before traders are convinced that they are taking control, and because today is the end of the month and end of the quarter, traders must be prepared for a surprise up or down as institutions decide on the close of the quarter.
Yesterday’s E-mini setups
Jed 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
Jed 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.
