Trading Update: Friday June 26, 2026
S&P E-mini market analysis
E-mini daily chart
- The daily chart of the E-mini continues to go sideways, forming a triangle inside a contracting trading range.
- The bears sold off, testing near the June 10 Low 1 short, and the bulls have so far been buying.
- The bulls are hopeful that the market will form a higher low compared to the June 11 low; next, they want a bull bar closing on its high and a rally back to the June 2 all-time high.
- At the moment, the odds favor a test of the all-time high.
- The three-bar rally from the June 11 low up to the June 15 high is strong enough that the odds favor a second leg up, while the bears are hoping for a strong downside breakout.
- The reality is that, because of the tight bull channel lasting from April to June, the odds are the market is going to go sideways for more bars.
- This means the downside potential for the bulls is probably limited, and the bulls will likely buy and scale in lower.
E-mini 5-minute chart and what to expect today
- The E-mini gapped down on the open and rallied from the bottom of bar 1.
- The bulls got a strong upside breakout with bars 6, 7, and 8, which was strong enough that the odds favored a second leg up and a test of bar 79, which the bulls got.
- The bulls formed a triangle on bar 22 that became a bull flag, leading to an upside breakout from the bar 22 low up to the bar 27 high.
- At this point, the bulls had two legs up and a large trading range on the 15-minute chart.
- The bears got a decent trend line breakdown to the bar 35 low; because the breakdown from the bar 27 high to the bar 35 low was strong and at the bottom, it was likely to evolve into a trading range.
- This increased the odds that there would be traders buying around the bar 35 low, betting on a bounce.
- The bulls rallied, trying to reach the bar 27 close, but they ultimately failed, and the bears got a reversal down on bar 45.
- Bar 45 was a credible Lower High Major Trend Reversal, and the market went sideways to down and ultimately broke to the downside on bar 58.
- As of bar 64, the market is testing the bar 22 low, which is the potential start of the bull channel.
- The bears are hoping that the sell-off from the bar 45 high down to the bar 64 low is forming a tight bear channel and a small pullback bear trend, but the reality is the odds are it will likely evolve into a trading range.
- This means the downside potential is likely limited.
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.
