Trading Update: Monday February 9, 2026
E-mini end of day video review
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S&P E-mini market analysis
E-mini daily chart
- The E-mini formed a strong bull reversal bar last Friday and is trying to form follow-through today. The bulls are hopeful that today’s follow-through bar will close on its high, increasing the odds of a second leg up in a break above the all-time high.
- Because the daily chart has been in a trading range for so many months, the odds are any breakout up or down will fail.
- Because the market has been more bullish than bearish on the daily chart, the odds slightly favor the upside breakout. But even if the market does break to the upside, there will probably be sellers above the all-time high.
- Traders should continue to expect that the daily chart will continue to go sideways until there is a clear breakout with follow-through, breaking beyond the extremes of the trading range.
- Overall, traders will pay close attention to see what the follow-through looks like today. The stronger the bar and the more closes on its high, the greater the probability that the bulls will get a second leg up and reach the all-time high.
E-mini 5-minute chart and what to expect today
- Today gapped down on the open and formed a bull trend from the open. The bears tried to form a failed breakout above last Friday’s high (bar 77), but they failed, and the bulls got a strong breakout with follow-through on 13 and 14.
- The bulls have done a good job with the small pullback bull trend up to bar 31. However, it’s becoming climactic on the higher timeframes, which increases the odds of the evolution into a trading range.
- The bears need to create more selling pressure before they can convince traders to start selling, betting on a strong reversal. This means the odds are the market is going to go sideways for the next several bars, and realistically, the market will probably have to form some kind of major trend reversal.
- Because the rally is getting climactic on the higher time frames, the market may go sideways for the next few hours, and then decide in the afternoon session if the market is going to get trend resumption or trend reversal.
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.
