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, September 11, 2017. 

  • Bar 1 - Big gu, close on high, big bull bars, buy the close, always in long, possible low of day, but low probability so swing or wait
  • Bar 2 - Good follow through, buy the close
  • Bar 6 - Double top 1 but 6 bar bull micro channel, buy below or probably buyers at the low of the bar scaling in lower. Bear want parabolic wedge soon, but bull will buy or long around moving average with double bottom with 1
  • Bar 9 - Parabolic Wedge 3, 5, but 9 bar bull micro channel, buy below or probably buyers at the low of the bar scaling in lower
  • Bar 10 - One legged pullback in a bull move, always in long, but 2 dojis, just below measured move target, possible parabolic wedge, trading range likely soon so better to wait to buy or long pullback or below bars
  • Bar 12 - One legged pullback in a bull move, always in long, but probably parabolic wedge, limit order bear scalpers made money above 10, sideways to down to moving average so sellers above or probably sellers at the high of the bar scaling in higher
  • Bar 14 - Two legged pullback in a bull move, always in long, but bear breakout and bear follow through, far above moving average, probably sideways to down to moving average, low probability so swing only or wait buy or long. Big up, big down, big confusion so trading range likely
  • Bar 16 - Two legged pullback in a bull move 12, always in long, but big up, big down, big confusion so trading range likely, sellers above or probably sellers at the high of the bar scaling in higher, maybe at 14 sell climax high. Buy below or probably buyers at the low of the bar scaling in lower around moving average
  • Bar 24 - Bull two inside bars, fail, failure lower high, always in long, OK buy or long, but probably limited up since did not get pullback to moving average yet
  • Bar 30 - Higher high major trend reversal, but small pullback bull trend, buy below or probably buyers at the low of the bar scaling in lower
  • Bar 41 - Fail, failure breakout all time high, buy climax 39, but small pullback bull trend, better to buy or long pullback to moving average

More bar-by-bar analysis, daily webinar and trading course info can be found here and also here.