Trading Update: Tuesday April 21, 2026
E-mini end of day video review
S&P E-mini market analysis
E-mini daily chart
- The daily chart of the E-mini formed a doji inside bar yesterday following the climactic rally over the past several days.
- The bears have yet to get a credible sell signal bar on the daily chart after all of the recent buying pressure. This increases the odds that the daily chart will likely continue to go sideways for the next several days.
- While the first reversal down is likely to be minor, the odds favor a pullback and test back to the 7,000 round number over the next several weeks.
- The bulls are likely getting exhausted and because of that the upside is likely limited for sometime.
- Overall, because the daily chart is climactic after breaking to a new All-time high, the odds favor sideways to down over the next several weeks and a test of the 7,000 round number.
E-mini 5-minute chart and what to expect today
- Today sold off for the first two bars of the day and found buyers at the moving average.
- The bulls formed a strong reversal up with bars 3-5. This was a strong enough upside breakout to expect a 2nd leg up, which the bulls got on bar 8.
- The bears formed a parabolic wedge top with bars 5,8, and bar 10 with a strong bear reversal bar.
- The bears ended up getting a strong selloff down to bar 19, however it was climactic and at yesterday’s low. This increased the odds of the market finding support and going sideways for several bars.
- As of bar 36, the market has gone sideways for several bars following the bear breakout on bar 19. This increases the odds that today is forming a trending trading range day with an upper range lows being a magnet at around the bar 1 low.
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.
