Trading Update: Friday June 12, 2026
S&P E-mini market analysis
E-mini daily chart
- The daily chart of the E-mini formed a large outside-up bar yesterday on the Globex chart.
- The outside-up bar was strong enough that the odds favored at least a second leg up.
- The channel up to 7,600 has been strong for the bulls, which increases the odds that the first reversal down is likely to be minor.
- Yesterday’s outside-up bar formed a micro double bottom with the June 10 bar, with June 10 being a Low 1 short closing on its low at support, and the odds favored buyers below that bar.
- Yesterday’s bar was enough of a surprise that the odds favor follow-through buying; however, today is unlikely to be a strong follow-through bar.
- Even if today is a disappointing bar for the bulls, there will probably be buyers below the bar, which increases the odds that the bulls will get some kind of second leg up and a test back to 7,600 or the June 4 low over the next several bars.
- Overall, the daily chart is likely to continue to go sideways and evolve into a trading range.
- The reality is the market will likely have to test back up to 7,600 over the next several bars.
E-mini 5-minute chart and what to expect today
- Today gapped up on the open and sold off with bar 1; however, bar 1 was at the moving average, following yesterday’s strong upside breakout with bars 48 and 49, which increased the odds that there would be buyers below bar 1 willing to scale in lower.
- The bears got a downside breakout on bar 3, but the follow-through was weak on bar 4, which increased the odds of a trading range open and of the market finding buyers on a test back to the bar 1 low.
- The bulls got a strong reversal up on bars 6, 7, and 8, which was strong enough for the odds to favor a second leg up; however, because of the selling pressure down to bar 4 today, the odds increased the risk of a deep pullback and a test of the breakout point — the bar 6 high — during bars 15 and 16.
- Bars 15 and 16 ended up forming a higher low, and the bulls got a second leg up to bar 23.
- By bar 23, the market was forming a bull breakout of the bull channel; the channel top was made by three pushes — the first at bar 5, the second at bar 7, and the third at bar 24.
- The bears got a decent reversal down to bar 30, which was enough to increase the odds that the market is forming a trading range; however, the bears will probably need to do more to convince traders that they are gaining control.
- This means the market may have to test back up to the bar 24 high and form some variation of a Major Trend Reversal.
- Overall, as of bar 36, the odds are that the rest of the day will have a lot of trading range price action, and the bull channel is likely to evolve into a trading range.
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.
