Trading Update: Wednesday March 18, 2026
E-mini end of day video review
S&P E-mini market analysis
E-mini daily chart
- The E-mini gapped below yesterday’s bear reversal bar, closing near its low.
- Because of the four consecutive bear bars closing below their midpoints, there was increased risk of the bears finding sellers around prior breakout points, such as the March 11th low.
- The bears are hopeful that today is strong enough to close on its low. This would create follow-through selling after yesterday and increase the odds of a 2nd leg down.
- Today is the FOMC meeting, which increases the risk of higher volatility later in the day.
- The odds favor buyers not far below and the bulls getting a reversal back up to the 6,900 round number. However, the market may have to test the November 2025 low before the bulls can get a successful reversal back up.
- Even if the bears can reach the November 2025 low, the odds will favor buyers not far below. This makes the current price level a difficult location for the bears to short. If the market does get a selloff down to the November low, it will likely just be a sell vacuum test of support.
E-mini 5-minute chart and what to expect today
- Today gapped down and rallied to the moving average before forming an opening reversal to the downside.
- Because the gap up was reasonable in size, the odds favored a 2nd leg down.
- Bar 9 was a strong enough bear breakout that the bears expected a 2nd leg down, which they got on bar 12. By bar 12, the market had formed a parabolic wedge bottom. This increased the risk of sideways trading.
- With the FOMC meeting at 2 PM EST, most traders should be flat at least 30 minutes before the report.
- If a trader is going to trade the report, they should wait at least 10 minutes after its release.
- The FOMC announcement increases the risk of lower probability events happening. This means that what is generally a higher probability is a lower probability, and lower probability outcomes are slightly higher probability.
- Traders must also prepare to trade smaller once the report is released due to the increase in volatility.
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.
