Trading Update: Monday April 27, 2026
S&P E-mini market analysis
E-mini daily chart
- The E-mini last Friday formed a bull bar, closing on its high. While this is good for the Bulls, it is breaking out above a five-day tight trading range and testing the 7,200 round number. Both of these locations are likely to act as resistance.
- The daily chart is around 200 points away from the daily moving average following the strong rally that began in April.
- This is extreme buying and therefore increases the odds that the market’s going to go sideways and test the moving average.
- The Bears are hopeful that they can get a strong reversal down; however, the reality is that the best the Bears can likely expect is a test of the 7,000 round number. 7,000 is likely going to be a magnet for the next several months. Because the higher time frames are getting climactic, the odds are against the market breaking far above 7,000 without going sideways for several months at a minimum.
- Overall, the daily chart is likely to continue to go sideways for the next several weeks. The market will probably test down to the 7,000 round number; however, if and when it does, there will likely be buyers in that general location willing to scale and lower. This reduces the downside potential and increases the odds of the market forming a trading range on the daily chart.
E-mini 5-minute chart and what to expect today
- Today formed little to no gap and has gone sideways for the first 15 bars of the day. So far today, it is extending last Friday’s trading range that began around bar 29.
- The market is in breakout mode and is deciding whether the breakout of the range will be up or down.
- Well, the odds favor a breakout and measured move at the opening range. Traders should assume that most breakouts are going to fail until they have a clear, successful breakout with follow-through.
- Because the daily chart is getting climactic, there’s increased risk that today will be a trading range day and possibly test down to last Friday’s low. Factoring in these 7,200, a round number just above that, further increases the probability that if we’re going to get a trend day up or down, it’ll likely be in favor of the Bears and try to reach last Friday’s low.
Friday’s E-mini setups
Richard created the SP500 E-mini chart.
Here are reasonable stop entry setups from Friday. 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.
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.
