Trading Update: Monday March 2, 2026
E-mini end of day video review
S&P E-mini market analysis
E-mini daily chart
- The E-mini is continuing to form a tight trading range on the daily chart. The bears tried to form a downside breakout during today’s session. However, the bears failed and today reversed up, forming a bull bar. The bulls are hopeful that today’s bar will close on its high, leading to a failed breakout below the tight trading.
- Because the Daily chart is in a tight trading range. Traders should assume that breakouts up and down are likely to fail.
- Bulls are hopeful that today will form a bull bar closing on its high and that tomorrow will form a strong follow-through and rally above the 7,000 round number and break above the all-time high.
- Even if the bulls do get a breakout above the all-time high, there will likely be sellers not far above.
- Most stop orders inside of a tight trading range force traders to trade right in the middle of the range, which is the worst possible price location. This is why most traders are better off waiting to see a clear breakout up or down.
- Until there’s a clear breakout beyond the extremes of the tight trading range lasting three to four months, traders should assume that the tight trading range is going to remain in control and continue to lead to failed breakouts up and down.
- Because of the higher time frame context, the odds slightly favor the Bulls getting the upside breakout.
E-mini 5-minute chart and what to expect today
- Today, gapped down on the open, and formed a wedge bottom on the higher time frame. Bar one formed a large bull bar, closing on its high. This was a good context for the bulls, a possible early low of the day, and a bull trend from the open.
- The Bulls managed to get above last Friday’s bar 78 high during bar 28 today. This ended the argument that the mark is in a bear channel in the higher time frames.
- The rally up to bar 8 was strong enough that the odds favored a second leg up, which the Bulls got on bar 28.
- Because bars 26 and 27 are a strong bull breakout with follow-through, and the market formed a trading range with bars 7 to 26, traders are hopeful that the Bulls will get a second leg up and a measure move up to around 6,910.
- Next, the Bulls are hopeful that the market will get a symmetrical second leg based on the rally from the bar one low up to the bar nine high. A symmetrical second leg would be around 6920, which might be too far for today to reach.
- Currently, as a bar 30, the market is still Always In Long, and the Bears probably need more selling pressure after bar 26. This is because the breakout and follow-through on bars 26-27 is likely strong enough to expect some sort of second leg up.
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.
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.
