Trading Update: Wednesday April 15, 2026
E-mini end of day video review
S&P E-mini market analysis
E-mini daily chart
- The E-mini yesterday formed a second strong consecutive bull bar, closing at the 7,000-round number. This is strong but extreme buying pressure, and it increases the odds of a pullback.
- The daily chart is so close to the all-time high that the odds favor a test of the all-time high.
- While it’s possible, a pullback happens before a test of the all-time high, the reality is any pullback is likely to be brief.
- The bears need to stabilize the buying pressure, even though the rally is climactic and the risk is getting big for the bears, any reversal down is likely to be limited.
- Overall, the rally has been very strong for the bulls, and at this point, the odds are that the market will reach the all-time high in the 7,100 round number. However, because the risk is getting big for the bears, traders should expect a pullback in sideways trading fairly soon.
E-mini 5-minute chart and what to expect today
- Today gapped up on the open and rallied, forming consecutive bull bars on the open.
- The bears formed a surprisingly strong downside breakout with three; however, it was just one large bar that failed to get follow-through, and it failed to close below the moving average. This limited the downside potential and increased the possibility of the bulls getting a test back to the two close later today.
- While bar three was strong enough for a second leg down, the bulls ended up trapping the bears with bar 6, and the market ended up reversing, breaking out above the three high.
- As bar 12, the market formed a small pullback bull trend, and the odds favored some second leg up.
- With bar 32 having every bar above the moving average so far today, this is a sign of strong trending behavior. This means that the downside is limited until the bears can start getting close to the moving average.
- The one thing going for the bears is that the daily chart is becoming climactic and extreme. This increases the odds of disappointment today and the bulls failing to close the day on its high.
- Because bar three is a fairly large bear breakout, there’s increased risk of a possible test of the bar three close later today. However, the bears need to demonstrate more signs of strength before traders will be convinced that this is going to happen.
- Right now, traders should assume that the best the bears can get is a trading range lasting several bars until the bears can start getting closes below the moving average.
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.
