Trading Update: Wednesday April 1, 2026
S&P E-mini market analysis
E-mini daily chart
- The E-mini formed a strong rally yesterday after the overnight gap up on the open. This is a strong enough upside breakout on the daily chart that the bulls will likely expect a second leg up and a test back to the November 2025 lows, which the market is reaching today.
- Because the daily chart is climactic and the sell-off to 6400 is likely a strong support level, it is reasonable to expect the market to get a bounce and a reversal up.
- Yesterday’s reversal up is strong enough that the reality is probably that buyers had a new low. This will entice bulls to buy, knowing that they can scale in below 6.4 and likely make money.
- With yesterday being climactic, there’s increased risk that today is a disappointment bar. The reality is that yesterday’s a strong enough bar that the odds favor a second leg up in a test back to the 6,900 round number, which is around the midpoint of the trading range that began back in October of last year.
- So far, the reversal up is strong, and the odds are the bulls are going to get a couple of legs up. Most traders are not going to hold short after yesterday’s reversal bar, especially when the odds are that the sell-off down to 6,400 is likely a bear leg and what would become a trading range.
E-mini 5-minute chart and what to expect today
- Today, gapped up on the open and rallied for the first two bars of the day. This increased the odds that there would likely be buyers below the bar one low, increasing the odds of a bull trend day or a trading range day, not a bear trend day.
- The market’s been above the moving average for the first 33 bars of the day. This is a sign of strong buying pressure. This increases the odds that the best the bears can expect is a trading range for the next several bars.
- Because the market is forming a wedge with bar 2, bar 20, and bar 30, the risk is real that the market may test down to bar 25, the most recent higher low.
- It’s reasonable for bulls to exit below bar 33 and wait for a pullback lasting a couple of legs.
- While the market being above the moving average is a sign of strength, the reality is that the market is likely going to have to touch the 20-period moving average fairly soon.
- With the market approaching the daily chart moving average, which is around 6,650, the odds are that there will likely be sellers not far above, somewhere around the 6,650 price level.
- Overall, with all the buying pressure today, the best the bears can probably expect is a trading range for the next several bars, because the rally has been getting fairly climactic over the past two days. The bulls may get a deep pullback today, testing down to the bar 25 low or even the close of bar 2 later today.
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.
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.
