Daily Price Action: E-mini S&P 500

Al BroOKs provides bar-by-bar analysis on a five-minute chart of the previous day’s prices action in the E-mini S&P 500. This is his analysis for Monday, July 10, 2017.

  • Bar 1 - Bull doji in middle of yesterday range so low probability so swing only or wait and high risk. Always in long, but probably sellers above or probably sellers at the high of the bar scaling in higher and more sideways. Yesterday was blch so today probably trading range day, especially since middle of month long trading range
  • Bar 2 - Consecutive bull bars so still always in long, but top of tight trading range
  • Bar 4 - Lower high, bear inside bar, but doji in middle of 4 hour tight trading range, always in long, limit order market, sellers scaling in above, buyers below, both scalping, low probability short, probably buyers below, and sideways more likely than down
  • Bar 6 - Consecutive bear bars, but still above 1 low so limit order bull scalpers, always in long. Buy the close for test above 4 low, and double bottom for possible low of day, but low probability so swing or wait. Most should wait
  • Bar 10 - Breakout pullback buy or long, always in long, close near high, OK swing buy or long for low of the day, but top of 4 hour tight trading range so not high probability
  • Bar 13 - Fail, failure breakout high of yesterday, double top 3, possible high of day, but low probability so swing or wait, but doji, to of tight trading range
  • Bar 14 - Double bottom bull flag 10, always in long, bull and bear trendline above high of yesterday
  • Bar 21 - Higher high mr, wedge, 18 ticks above 10, but bear trendline magnet above
  • Bar 25 - One legged pullback in a bull move, brtl magnet above, always in long, but 3 consecutive bear bars, possible sellers above or probably sellers at the high of the bar scaling in higher, and probably sellers above or probably sellers at the high of the bar scaling in higher bear trendline
  • Bar 32 - Higher high major trend reversal at 5 day bear trendline, possible high of day, but low probability so swing or wait, fail, failure breakout high of yesterday second entry sell, but small pullback bull trend, 9-bar bull micro channel, always in long. OK sell or short but probably more sideways to up. Since weak rally and limit order bear scalpers made money above 21, sellers above or probably sellers at the high of the bar scaling in higher 32
  • Bar 39 - Two legged pullback in a bull move at moving average, close on high, always in bears can exit above and sell again below bear bar. Small pullback bull trend, but weak rally, bull prefer to buy or long further below high of the day since probably sellers above or probably sellers at the high of the bar scaling in higher high of the day. Not strong buy or long. Still probably probably bull leg in trading range and not in bull trend and trading range soon

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