Trading Update: Thursday June 11, 2026
S&P E-mini market analysis
E-mini daily chart
- The daily chart yesterday formed a Low 1 short on the Globex chart, forming a bear bar closing on its low, which is good selling for the bears.
- It is a Low 1 short below the support of the May 19 higher low, which increases the odds that today will form a disappointing follow-through bar for the bears.
- A Low 1 short is a retest of the previous extreme; in this case, that was the doji on June 9.
- Yesterday’s Low 1 is testing the June 9 low, and therefore if today reverses up, it creates a micro double bottom.
- The bulls are hopeful that the market gets a bull bar closing on its high, creating a micro double bottom, which would increase the odds of a second leg up and a test back to the 7,400 round number.
- Because the channel up was so tight, lasting a couple of months, the odds are the market will evolve into a trading range rather than an opposite trend.
- This reduces the probability that the market will sell off a lot lower without first going sideways, and it increases the risk that the market may have to rally all the way back up to the 7,600 round number and form a trading range lasting several months.
- The bears want to prevent the bulls from getting a bull bar closing on its high.
- At the moment, the odds are that today will be a disappointing bar for the bears, which means today is unlikely to close below yesterday’s low.
- The bulls are hopeful that today will form a bull bar closing on its high, increasing the odds of a second leg up.
E-mini 5-minute chart and what to expect today
- Today gapped up on the open and went sideways for the first three bars.
- The bears tried to sell off below bar 1, but bars 2 and 3 were dojis, which increased the risk of the market getting an opening reversal.
- The bulls got a strong breakout on bars 4 and 5; however, because of the tail on bar 4 and the overlap of bar 5 with bar 4, the probability of the market breaking strongly to the upside was reduced.
- The bears got a reversal bar at bar 6, which increased the odds of there being sellers above the bar 6 high, which is what happened.
- Bars 7 and 8 formed a second-entry short for the bears, and because of the weak bar 3 stop-order buy for the bulls, the risk increased that the market would test back down to that breakout point.
- The bears got a strong breakout on bars 9 and 10, which increased the odds of a second leg down; however, because of the buying pressure on bars 4 and 5, there was increased risk of a deep pullback, which is what happened during bars 11 through 14.
- The market tested the breakout point below bar 8 and found sellers at the bar 8 low during bar 14, which led to a second leg down to a new low for today and a test of yesterday’s close as of bar 19.
- The bears had two legs down; however, because of the overall trading range price action and the odds favoring buyers below the previous day’s low, the odds increased that the market would find buyers around bar 19 and rally back to the midpoint of the day as of bar 33.
- The bulls have done a good job with the rally and are hopeful that the market will test back up to the high of the day and the Globex high.
- The market has yet to break above the Globex high or below the Globex low.
- The bears tried to break below the Globex low on bar 19 and failed, and now the market is trying to reverse up to the Globex high during bar 33.
- Overall, today is likely to have a lot of trading range price action.
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.
