Trading Update: Wednesday June 24, 2026
S&P E-mini market analysis
E-mini daily chart
- The daily chart of the E-mini is forming a triangle and continuing to go sideways, entering breakout mode.
- The bulls are hopeful that the market will rally back to 7,600 and create a second leg up after the bull rally to June 15.
- Ultimately, the bulls will not reach the all-time high with the market forming a triangle; the odds favor the market going sideways for the next several weeks, not several months.
- With all the trading range price action over the past couple of weeks, traders should expect the market to continue to go sideways and to develop breakout mode at some point.
- It will probably reach the all-time high and test the June 2 high; however, we may have to sell off to the June 10 Low 1 short and first create a double bottom.
E-mini 5-minute chart and what to expect today
- The 5-minute chart of the E-mini formed a bull bar closing on its high and went sideways for the first 11 bars, forming an expanding triangle.
- The bulls got a strong reversal up with bars 11, 12, and 13, which led to buyers below bar 14 and a second leg up to the bar 18 high.
- Bar 18 formed a parabolic wedge testing yesterday’s high.
- The bears ultimately formed a double top with bars 19 and 23, and the market went sideways, forming a contracting triangle in breakout mode.
- The bears got a strong downside breakout with bars 37 and 38, which was likely to get a second leg down, which the bears got after bar 43.
- As of bar 49, the sell-off to bar 48 is strong enough that the odds favor sideways trading, because the sell-off down to bar 49 tested yesterday’s low and is getting climactic in an overall trading range.
- That increases the risk that we may get a deep pullback.
- Always-in bears will probably exit above a bull bar, and the bulls will look to buy a second entry.
- The bulls are hopeful that the market will rally back to the open of the day and close somewhere around the middle of the day’s range.
- So far, it is strong selling for the bears, but because of the trading range price action, the downside might be limited for the rest of the day.
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.
